During the retracement phase, the price action is exhibiting a gradual movement, maintaining its position within a key support zone. However, the price currently lacks robust momentum, suggesting underlying weakness that could potentially lead to a bearish reversal in the near term. A critical trendline is in play, serving as a pivotal area where significant price action could unfold. This trendline may act as a catalyst for either a potential decline or a subsequent recovery, depending on market dynamics and the strength of buyer or seller conviction at this level. Monitoring volume, momentum indicators, and any breakout or rejection signals at this trendline will be essential for anticipating the next directional move.
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