FIL/USDT Breakout Alert! Descending channel. Bullish Momentum !!💎 FIL has notably made its mark in the cryptocurrency market. Recently, FIL achieved a significant milestone by breaking out of a major descending channel pattern, signaling a shift to bullish momentum.
💎 This breakout suggests that FIL might enter a retesting phase, likely at the demand area or along the support trendline of the descending channel, before it can probability continue its ascent toward a strong resistance area.
💎 However, there's a possibility that FIL might approach the resistance area directly without undergoing a retesting phase. In such a scenario, FIL could face rejection at this resistance level, which might lead it back down to the demand area.
💎 The demand area becomes crucial in this context. For FIL to maintain its upward trajectory, it must bounce back from this area. Should FIL fail to hold its ground at the demand zone, particularly if it breaks below it, the asset could potentially drop further to a lower demand area, around the $4.4 mark.
