$C Descending channel still in play, buyers need a breakout for momentum
On the 15m chart, $C remains trapped in a downward channel, with price consolidating near the lower boundary around 0.2480 after a sharp drop from 0.2659 resistance. The EMA trend remains bearish, but a breakout from the upper channel line could signal a short-term reversal.
đŻ Trade Plan â Two scenarios:
1ď¸âŁ Bullish breakout:
Entry: 0.2515â0.2520 (break and close above channel resistance)
TP1: 0.2560
TP2: 0.2600
TP3: 0.2659
Stop-loss: Below 0.2480
2ď¸âŁ Bearish continuation:
Entry: 0.2480â0.2490 (rejection from channel top)
TP1: 0.2440
TP2: 0.2400
Stop-loss: Above 0.2520
đ Market view:
The 0.2659 level remains a key resistance for a real bullish reversal. For now, trend is still down, but the lower channel zone offers potential bounce opportunities for scalpers.
