#XAI/USDT — Falling Wedge Formation, Breakout or Breakdown?#XAI
The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We have a bearish trend on the RSI indicator that is about to be broken and retested, which supports the upward breakout.
There is a major support area in green at 0.0277, representing a strong support point.
We are heading for consolidation above the 100 moving average.
Entry price: 0.0294
First target: 0.0301
Second target: 0.0315
Third target: 0.0329
Don't forget a simple matter: capital management.
When you reach the first target, save some money and then change your stop-loss order to an entry order.
For inquiries, please leave a comment.
Thank you.
Xaichart
#XAI (SPOT) entry range (0.17- 0.19) T.(0.8390) SL (0.1655)entry range ( 0.17- 0.19)
Target1 (0.5360) - Target2 (0.8390)
SL .4H close below (0.1655)
*** Breakout is done in 1H Frame & this entry will be in the retest *****
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