The cryptocurrency $PEOPLE has recently shown significant technical strength by breaking out of a long-standing descending channel on the daily chart. This breakout is a key signal that bearish pressure may be easing, and the asset could be entering a phase of recovery and upward momentum.
Following the breakout, $PEOPLE has successfully completed a retest of the upper boundary of the former channel. This retest confirms the breakout’s validity and suggests that the previous resistance has now turned into a strong support level. Such a move typically strengthens the bullish case and attracts more buyers into the market.
With this technical setup in place, we are expecting a continuation of the current recovery trend. The next key price level to watch is the psychological and technical resistance around $0.050. If $PEOPLE maintains its momentum and trading volume supports the move, a rally toward and beyond this level is likely in the coming days.
Traders and investors should keep a close eye on volume patterns, market sentiment, and broader crypto trends, but the breakout and confirmed retest on the daily chart are encouraging signs for bulls.
