#LDO/USDT — Critical Retest at Demand Zone vs Long-Term Downtr#LDO
The price is moving within an ascending channel on the 1-hour timeframe and is adhering to it well. It is poised to break out strongly and retest the channel.
We have a downtrend line on the RSI indicator that is about to break and retest, which supports the upward move.
There is a key support zone in green at 0.7400, representing a strong support point.
We have a trend of consolidation above the 100-period moving average.
Entry price: 0.7514
First target: 0.7640
Second target: 0.7879
Third target: 0.8140
Don't forget a simple money management rule:
Place your stop-loss order below the green support zone.
Once you reach the first target, save some money and then change your stop-loss order to an entry order.
For any questions, please leave a comment.
Thank you.
