As you can see, CIX is in a long-term bullish channel and the trend line has supported the price so many times. The index is at the key support again and has broken the short-term bearish channel ( correction phase ) and now is completing its pullback to the broken line. Due to the total sentiment in the crypto market, it's possible that the pullback continues and creates a fake break out of the bull channel and make a lower low to the 1st static key support and then, return back into the bull channel and goes up to the mid-line of that.
This long-time bull channel can not break easily but it's possible that the index creates a trading range and start bouncing between these static and dynamic support.
This long-time bull channel can not break easily but it's possible that the index creates a trading range and start bouncing between these static and dynamic support.