$EDGE 24-hour low, current price 0.3126, previous low 0.3153.
After making a new low, there are generally three possible moves:
① It bounces to the previous low, then gets pushed back down: weakness continues
② It trades back and forth near the previous low: consolidation, watch for direction
③ It quickly reclaims the previous low and holds: false breakdown
It is still below the previous low for now, so first watch whether it follows ① or ②.
#EDGE
After making a new low, there are generally three possible moves:
① It bounces to the previous low, then gets pushed back down: weakness continues
② It trades back and forth near the previous low: consolidation, watch for direction
③ It quickly reclaims the previous low and holds: false breakdown
It is still below the previous low for now, so first watch whether it follows ① or ②.
#EDGE