The price is facing strong resistance from the descending trendline, which continues to act as an obstacle to any meaningful upward movement.
During the last retest, the price failed to break above this trendline, leading to a downtrend formation on the lower timeframes.
As long as the trendline remains unbroken, the market structure favors further downside movement.
A confirmed breakout above the trendline is needed to shift momentum back to the bulls.
If you'd like, I can also create a more bullish/bearish version or add targets and risk levels.$IOST
IOSTUSDT
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