TRB $TRB has strongly bounced from the broken descending cha | free crypto for all on Binance Square

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TRB
$TRB has strongly bounced from the broken descending channel formation on the daily chart👨 

#trb #btc 

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TRB/USDT (Tellor), and it shows the price action with Bollinger Bands and horizontal support/resistance levels. Here's a breakdown of what can be observed: 📊 Technical Overview 1. Trend & Price Action Downtrend: The asset has been in a prolonged downtrend from a previous high. Recent Breakout: There’s a strong bullish candle breaking through the previous resistance around $30.05, shooting up to around $51.44. This could indicate a potential reversal or a bull trap, depending on volume and follow-through. 2. Key Levels Support Levels: Around $30.05 (previous resistance, now support) Multiple lower levels visible between $15 and $25 Resistance Levels: $51.44 (currently testing) $56.88 (next major resistance) $102.08 (a long-term resistance, likely from a past peak) 3. Bollinger Bands Price has broken above the upper Bollinger Band with force, indicating a high volatility breakout. Typically, such moves are unsustainable unless backed by strong volume and sentiment. 4. Volume Noticeable surge in volume on the breakout candle, which adds credibility to the move. Watch for follow-up volume — if it dries up, a pullback is likely. 🔍 What to Watch Next Retest of $30–$35: If the price pulls back, this zone could act as support. Break of $56.88: If broken with volume, it could trigger another leg up. Failure to Hold Above $50: Might lead to a pullback into the $40 or even $35 area. #btc #trb

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