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MyCryptoParadise
Feb 27, 2024 12:56 PM

ILV/USDT Indicating a Bullish Movement if ILV Breakout this area 

ILV / TetherUSBinance

Description

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💎 ILV has recently demonstrated significant market dynamics, breaking out of a key supply area with a notable upward movement.

💎 This bullish momentum suggests that ILV may continue its upward trajectory, probability of reaching our target area.

💎 However, it's important to closely monitor the daily close candle for ILV. If the price fails to close above the supply area on the daily timeframe, it could indicate a false breakout. In such a scenario, there's a possibility of the price being rejected and moving downward, retesting the Bullish OB around 91.3 to establish new momentum.

💎 Upon reaching the Bullish OB area, it's crucial for ILV to bounce back and attempt to break above the supply area once again. Failure to do so and a subsequent breakdown below the Bullish OB could signify a bearish reversal, leading the price further downward, possibly targeting the demand area or even lower levels.
Comments
LegionQ8
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Maybe price can fall to demand zone and then start to grow?
CScalp_EN
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I like your ideas thanks
Xanrox
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It looks like a bullish flag. Trade a breakout above the flag!
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