Yello, Paradisers! Is #BANDProtocol breakout from the falling wedge legit—or are bulls walking straight into a trap? Let's dig into the latest setup of #BANDUSDT :
💎After trading for weeks inside a falling wedge, #BAND has finally broken out with solid momentum. The breakout above the resistance trendline at around $0.66 has already occurred, and the price is currently hovering near the $0.72 zone. While this move is promising, it’s now all about whether this breakout can hold or fake out.
💎The structure here is clear: #BANDUSD reclaimed the demand zone between $0.60–$0.66 after bouncing off strong support at $0.504. This zone now becomes the most important area to watch in the short term. A retest of this level would offer a high-probability continuation setup, especially since the 50EMA is now acting as dynamic support beneath the price.
💎If bulls can maintain control, we have a clear path toward the moderate resistance at $0.992. That’s where the next wave of selling pressure is expected. But the real prize is the strong resistance zone near $1.180. That’s the level where major distribution could occur, and it's where we’ll be watching closely for profit-taking signs.
💎However, the bullish thesis breaks down completely if the price drops back below the $0.60–$0.66 demand zone. In that case, our invalidation point sits firmly at $0.504. A close below that support would indicate bears are back in control, and we’d shift to a defensive stance, targeting lower re-entry zones.
Stay patient, Paradisers. Let the breakout confirm, and only then do we strike with conviction.