📊 Analyze $OPEN USDT – Potential Reversal & Rally
Currently, the price of $OPEN USDT is moving in the area of $0.85, after passing through the distribution phase and entering the consolidation period. From the latest movement pattern, there is a strong indication that the market is forming a reversal structure with the following scenarios:
🔎 Market Structure
A consolidation (accumulation) pattern is visible in the support area.
After this phase, there is potential for a new swing high to form above the previous level.
The higher high – higher low structure is predicted to signal the beginning of a new uptrend.
🟢 Bullish Scenario
If the price can break through the consolidation area, the nearest target is around $1.22.
There is potential for further rally up to $1.96 – $2.00 if the swing high structure continues to form.
🔴 Bearish Scenario
Failing to hold the swing low area could bring the price back below $1.01, even testing the old support in the area of $0.85.
🎯 Conclusion
The best strategy right now is to wait for breakout confirmation from the consolidation. If volume increases and a new swing high forms, the potential for a short to medium-term reversal is quite large.
🚨 Disclaimer: Not financial advice. Conduct personal research before making trading decisions.