$CFX 24-hour low, current price 0.05441, previous low 0.05476.
After a new low, three common scenarios:
① It rebounds to the previous low and gets pushed back down: the decline continues
② It repeatedly moves around the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
It’s still below the previous low for now, so let’s see whether scenario ① or ② plays out.
After a new low, three common scenarios:
① It rebounds to the previous low and gets pushed back down: the decline continues
② It repeatedly moves around the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
It’s still below the previous low for now, so let’s see whether scenario ① or ② plays out.