#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.
