SLP/USDT - Will This Downtrend Finally End?SLP/USDT on the 1D timeframe is still moving within a clear medium-term downtrend. Since mid-2025, price has consistently formed lower highs and lower lows, confirming strong seller dominance. However, the current price action shows a noticeable buyer reaction near the demand zone and the upper boundary of the descending channel.
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Pattern and Price Structure
Descending Channel (Bearish Structure)
Price is moving inside a well-defined descending channel, bounded by:
Upper trendline (dynamic resistance)
Lower trendline (dynamic support)
Bullish Reaction from Lower Channel
Price recently bounced from the lower boundary, indicating short-term accumulation and buying interest.
Minor Base / Consolidation Zone
The highlighted yellow box represents a consolidation area, acting as a temporary base before the latest bullish push.
Structurally, this is a critical decision zone for price direction.
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Key Levels
Resistance:
0.00119 – minor resistance
0.00128 – structural resistance
0.00149 – strong resistance
0.00166
0.00197
0.00229 – major supply zone
Support:
0.00100 – psychological support
0.00085 – minor support
0.00070 – major demand / previous low
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Bullish Scenario
The bullish scenario becomes valid if:
Price breaks and closes above the descending channel resistance on the daily timeframe
Supported by increasing volume
Upside targets:
0.00119
0.00128
0.00149
0.00166
0.00197 (extended target if momentum remains strong)
A confirmed breakout would invalidate the lower-high structure, opening the door for a trend reversal or strong bullish correction.
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Bearish Scenario
The bearish scenario will occur if:
Price fails to break above the channel resistance
A strong rejection or bearish engulfing candle appears near the current area
Downside targets:
0.00100
0.00085
0.00070 (previous major low)
This would confirm that the recent move is only a pullback within a broader downtrend, with sellers regaining control.
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Conclusion
SLP/USDT is currently at a make-or-break level.
A confirmed breakout from the descending channel could signal a healthy reversal, while rejection will likely extend the existing bearish trend. Traders are advised to wait for daily candle confirmation rather than entering aggressively.
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Long
