MyCryptoParadise

SUSHI/USDT Could Bounce from the support and break the pattern ?

BINANCE:SUSHIUSDT   SUSHI / TetherUS
๐Ÿ’ŽSUSHI has recently demonstrated noteworthy market dynamics. It is currently positioned on the support trendline of a Bullish pennant pattern, which is typically considered a bullish pattern.

๐Ÿ’Ž Furthermore, the daily close shows a hammer candlestick, suggesting potential bullish momentum if today's candle closes in the green.

๐Ÿ’Ž In such a scenario, SUSHI may climb upward toward the resistance of the pattern in an attempt to break out. A successful breakout probability could lead to a test of the strong resistance area.

๐Ÿ’Ž However, if SUSHI breaks below the support trendline, it will invalidate the Bullish pennant pattern, and there is potential for the price to move downward toward the demand area at 0.87, initiating a new momentum.

๐Ÿ’Ž The demand area holds significance as it may serve as a potential bounce point for the price, allowing it to reverse and move upward. Nevertheless, if the demand area is breached, this would be a bearish signal, indicating that the price is likely to continue its downward trajectory, ultimately reaching the strong support area.
Trade closed: target reached:
Another win! #SUSHI up 76.07%, as forecasted!


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