The chart indicates the following key observations:
### 1. Current Market Sentiment:
- Trend Channel: The price is moving within a descending channel, indicating a bearish trend in the short to medium term.
- RSI (Relative Strength Index): The RSI is at 47.59, which is neutral but leaning slightly towards bearish sentiment as it remains below 50.
- Volume: The trading volume appears moderate, with no significant spikes to indicate strong momentum in either direction.
### 2. Key Levels:
- Support Level: Around 90,538.60, as marked on the chart.
- Resistance Levels:
- First resistance at 95,817.80 (current price area).
- Major resistance at 99,643.69.
- 24H High: 101,973.10 suggests strong resistance above 100K.
### 3. Potential Next Moves:
- Bearish Scenario: If the price continues to respect the descending channel and fails to break above resistance at 95,817.80 or 99,643.69, it may retest the lower support near 90,538.60.
- Bullish Scenario: A breakout above 99,643.69 with strong volume could trigger a bullish move towards 108,366.80.
- Neutral: Consolidation is also possible if the price remains within the channel bounds without a decisive breakout.
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