$BEL :Scenario 1 Confirmed! Breakout Above Resistance! ✅

$BEL : Consolidation and Potential Scenarios Explained in Detail
$BEL is currently trading at $0.6973, exhibiting a phase of consolidation after a notable price surge. This consolidation is occurring within a well-defined support area, marked as a green rectangular zone on the chart, and a resistance level at $0.7312. The current price action suggests a potential equilibrium between buyers and sellers. Scenario 1: 👇
If the price manages to bounce from the support area (indicated by the green arrow pointing upwards), it will likely retest the resistance at $0.7312. This bounce could be driven by renewed buying interest or a temporary relief rally. However, the overall consolidation pattern suggests that this bounce might be short-lived unless accompanied by significant volume.
Scenario 2: 👇
A more concerning scenario is a breakdown below the current support area (indicated by the white arrow pointing downwards). This breakdown would signal strong selling pressure and could trigger a significant decline towards the next support level, which is located at $0.6252. The volume profile indicates moderate trading activity around the current price, suggesting that this level is crucial.
$BEL next Targets👇:
🎯 Short-term: $0.7312 (Resistance)
🎯 Mid-term: $0.7600 (Potential Resistance)
🎯 Long-term: $0.8251 (24h High)
#bel #SignalAlert