#LDO/USDT — Critical Retest at Demand Zone vs Long-Term Downtr#LDO
The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards a breakout, with a retest of the upper boundary expected.
We are seeing a bearish bias in the Relative Strength Index (RSI), which has reached near the lower boundary, and an upward bounce is expected.
There is a key support zone in green at 0.5635, and the price has bounced from this level several times. Another bounce is expected.
We are seeing a trend towards stabilizing above the 100-period moving average, which we are approaching, supporting the upward trend.
Entry Price: 0.5673
First Target: 0.5757
Second Target: 0.5850
Third Target: 0.5992
Remember a simple principle: Money Management.
Place your stop-loss order below the green support zone.
For any questions, please leave a comment.
Thank you.
