A $KMNO 24-hour low: current price 0.04103, previous low 0.04132.
After a new low, price generally moves in one of three ways:
① It rebounds to the previous low and then falls back: the downtrend continues
② It moves sideways near the previous low: consolidation while the market decides its direction
③ It quickly recovers the previous low and holds above it: a false breakdown
For now, price is still below the previous low. Watch to see whether it follows scenario ① or ②.
After a new low, price generally moves in one of three ways:
① It rebounds to the previous low and then falls back: the downtrend continues
② It moves sideways near the previous low: consolidation while the market decides its direction
③ It quickly recovers the previous low and holds above it: a false breakdown
For now, price is still below the previous low. Watch to see whether it follows scenario ① or ②.
