Source: TradingViewHowever, after the breakout from a long basing formation, the price retests the breakout level. The long wick on todays candlestick suggests profit-booking at higher levels and the deeply overbought level on the relative strength index (RSI) likewise points to a possible correction.The rate may now dip back to $5.90. Contrary to this assumption, if the cost drops and sustains below $5.90, it will suggest the present rally was a bull trap. If the cost rebounds off either level, it will suggest that traders are purchasing on dips. As the cost has invested a long time in a basing pattern, the rally is most likely to surprise to the upside.Contrary to this assumption, if the price turns down from the current level and breaks below the 50% Fibonacci retracement level at $0.83, the set may drop to the 61.8% retracement at $0.72.