MONDAY
24-JUN
Price took out Q1 highs last month as well as last month's (LM) high, followed by a strong rejection.
It seems like it's targeting LM low around 0.0027.
On the Weekly, price has not managed to close above 0.0040 for almost two months which could mean that sellers are in control and have been distributing around that level.
Another reason for the drop to continue would be the absence of a weekly buy zone before LM low.
Price rejected the lows last month but reacted from the buy zone that broke the previous ATH.
This means that if there's any buy interest, it is below LM low and not before that.
Once LM low is broken, price is likely to react from the previous ATH S/R level which is just below.
On the Daily, price could possibly react from the buy zone around LM swing low and rally.
However, given the HTF picture the rally may not lead to new highs since the selling pressure above 0.0035 may be too much.