, at the time of writing, was traversing near the lower boundary of its Bollinger Bands after a steep decline from its $0.119 resistance. A close below the immediate support could spiral into extended losses in the coming sessions.
The decline from the $0.119-level entailed an over 12% single-day loss on 19 August. But the bulls have upheld the $0.16-floor for nearly a month. An immediate recovery could slam right into the basis line in the $0.109-zone before a short-term reversal.RationaleThe bearish RSI stood at the threshold of the oversold region. A close below this level could extend the near-term losses before a likely revival.
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