1. Note that the parallel channel has an up slope.
2. There is a high possibility that its price may move downwards to meet the lower channel line in the near future.
3. RSI is already <30 , indicating that it is oversold.
4. My guess is that, it will be a good buy entry if the price sinks below 2.05, of course the lower the better but need to place a stop loss if the price moves more than 5% away from the lower channel trend line.
5. Should the purchase be successfully executed, target it to be sold off when it moves back up to meet the upper channel.
Good luck
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