The overall situation of
ARBUSDT
can be described as follows:
A descending channel has formed, which confirms with multiple price bounces off the lower channel line. It is likely that the price will soon reach $1.40 from $1.16 and validate the hypothesis of the descending channel, shaping it further.
At the price of $1.40, we are witnessing a resistance line, and it doesn't seem likely that the market will be able to break through this resistance under the current conditions.
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
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ARBUSDT
can be described as follows: A descending channel has formed, which confirms with multiple price bounces off the lower channel line. It is likely that the price will soon reach $1.40 from $1.16 and validate the hypothesis of the descending channel, shaping it further.
At the price of $1.40, we are witnessing a resistance line, and it doesn't seem likely that the market will be able to break through this resistance under the current conditions.
⚠️ "Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help."
Don't forget to like and comment
Comment:
TP1