A hammer ended selling on the 14th of August and a much needed bounce was seen after.
Although more is needed to calll this a clear bottom, chances are this market will try for some stability from here. Bulls need to do much more to improve technicals; the Bollinger Bands midline already see some resistance in the 0.02550/0.02650 zone and is the first hurdle. Above there resides the bigger downtrendline around 0.02900.
If bulls want to continue, ideally, dips have to see support against 0.02000 and 0.01850. Setting a higher low there could see a further attempt north.
Better chances for however to see this market searching for extremes for the next sideways move.
Although more is needed to calll this a clear bottom, chances are this market will try for some stability from here. Bulls need to do much more to improve technicals; the Bollinger Bands midline already see some resistance in the 0.02550/0.02650 zone and is the first hurdle. Above there resides the bigger downtrendline around 0.02900.
If bulls want to continue, ideally, dips have to see support against 0.02000 and 0.01850. Setting a higher low there could see a further attempt north.
Better chances for however to see this market searching for extremes for the next sideways move.