JUV/USDT Chart Analysis

1. Technical Pattern: Falling Wedge

The triangle drawn in the chart is a falling wedge pattern, which is a technical pattern that is considered a positive sign if its upper bound is breached.

Usually, this pattern indicates a gradual decline in price with decreasing volatility, before a strong upward breakout occurs once the upper bound of the triangle is surpassed.

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2. Chances of a Price Rally:

The coin has chances of rising if the following scenario is realized:

1. Breaking the upper bound of the triangle (falling wedge):

The price must break the $1.20 – $1.30 level with high trading volume to confirm the upward reversal.

2. Increased Buying Momentum (RSI & MACD):

The Relative Strength Index (RSI) currently appears in the oversold zone, which means a possible rebound is imminent.

If the MACD starts giving positive signals (bullish crossover), it may support the price rally.

3. Reaching the technical pattern target:

The first expected target in case of breaking the pattern is $2.50.

The second target may be close to $6.00 as shown in the chart.

The target is $6 soon, the price is great for entry