#CHRUSDT has been trading within a descending channel on a daily timeframe, consistently respecting the trendlines. We anticipate a significant breakout due to the recent push #CHR received from a successful retest of the channel's lower support.
A potential retest of the Bullish Order Block at $0.20 could be pivotal if the price is rejected by the upper trendline of the channel. This area is packed with liquidity .
If #CHR can break above the descending resistance, supported by the liquidity at $0.27 , we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook.
Should the current resistance hold, we might see a retest of the support level at $0.2200. This could provide the necessary rally for a breakout. Watch for signs of strong buying interest at this level as an indicator of a potential upward move.
@Altcoin_Charts
A potential retest of the Bullish Order Block at $0.20 could be pivotal if the price is rejected by the upper trendline of the channel. This area is packed with liquidity .
If #CHR can break above the descending resistance, supported by the liquidity at $0.27 , we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook.
Should the current resistance hold, we might see a retest of the support level at $0.2200. This could provide the necessary rally for a breakout. Watch for signs of strong buying interest at this level as an indicator of a potential upward move.
@Altcoin_Charts
#CHRUSDT finally failed to break the resistance of $0.2700 and fell to the support level of $0.2200-0.2000.
The descending channel is still valid, and according to the current market trend, the price will probably fall to the bottom of the descending channel, at $0.1430.
If the current support level holds, the price will rise again to test the $0.2700 resistance.
Areas with high potential are marked in the chart.
@Altcoin_Charts
The descending channel is still valid, and according to the current market trend, the price will probably fall to the bottom of the descending channel, at $0.1430.
If the current support level holds, the price will rise again to test the $0.2700 resistance.
Areas with high potential are marked in the chart.
@Altcoin_Charts