#BAND
📌 Formation:
A distinct Rising Wedge formation is visible in the chart.
This formation is generally a reversal signal pointing downwards.
As the price progresses upward with tightening, momentum has weakened and the risk of a breakout has increased.
🎯 Target Price:
DirectionTarget Price (USDT)Description🔽 Down0.6932 USDTTarget as much as the height of the wedge
📊 Technical Observations:
Formation Upper Resistance: Approximately 0.7850 USDT level
Lower Support: Approximately 0.7600 USDT, the lower limit of the wedge
The price is currently at 0.7712 USDT and is signaling a potential drop below the wedge.
Looking at volume analysis, the volume during upward movements has been weak, which increases the risk of a breakout.
🛡 Support – Resistance Levels:
TypeLevel (USDT)DescriptionResistance0.7850Upper wedge limitSupport0.7600Lower wedge limitMain Support0.6932Formation target area
🔍 Possible Scenarios:
ScenarioConditionTarget📉 Down ScenarioIf the lower trend line is broken0.6932 USDT🔁 SidewaysThere may be horizontal movement between 0.7600–0.7850Uncertain direction❗ Up ScenarioIf there is a close above 0.7850The formation becomes invalid
✅ Summary:
TitleInformationMain FormationRising WedgePossible DirectionDownFormation Target0.6932 USDTSupports0.7600 → 0.6932WarningBreakout should be awaited for confirmation