$W
๐ Pattern and Chart Structure:
Timeframe: 1D (Daily)
Pattern: Breakout from a Descending Trendline that has been intact since late 2024.
Support and Resistance Levels:
Closest support: $0.0744
Key resistances: $0.0915 โ $0.1087 โ $0.1446 โ $0.1852 โ $0.2528 โ $0.3197 โ $0.4017
Volume & Momentum: The chart shows a price breakout above the descending trendline, likely accompanied by increased buying volume (volume confirmation is important).
๐ Bullish Scenario:
If the price holds above the broken trendline:
A confirmed breakout occurs if the daily candle closes above $0.0744 and pushes toward $0.0915 and beyond.
Gradual target levels:
1. $0.0915 โ $0.1087
2. $0.1087 โ $0.1446
3. $0.1446 โ $0.1852 (strong psychological resistance)
4. With strong bullish momentum, potential rally towards $0.25 โ $0.40 range
๐ Note: If the price forms a higher low after the breakout, it further confirms a trend reversal.
๐ป Bearish Scenario:
If this breakout turns out to be a false breakout:
Price fails to hold above $0.0744
Drops back down to the support range around $0.0630 โ $0.0500
If the price breaks below $0.0500, a further decline toward historical support at $0.0450 is possible
๐ A bearish confirmation would come from a daily candle closing back below the trendline with increased selling volume.
๐งฉ Conclusion:
Currently, W/USDT shows signs of a possible reversal after breaking the major long-term downtrend.
Breakout validation requires volume confirmation and strong follow-through.
The potential upside is attractive, but caution is advised in case of a false breakout.
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