BAKE/USDT Potential Bounce and make a Bullish Momentum ??Yello Paradisers, Keep an Eye on BAKE: Navigating a Major Descending Channel
💎 BAKE continues to operate within a significant downward channel.
💎 Previously, it experienced a sharp rally, reaching a Bearish Order Block (Bearish OB) where it faced a strong bearish rejection and subsequently declined.
💎 Looking at the chart, BAKE shows potential for a bounce as it approaches a resistance zone. Should BAKE face rejection at this point and decline, it's likely to breach a crucial support level, setting new lows. On the flip side, if BAKE manages to break and sustain above the resistance zone, it could retest the previous Bearish OB.
💎 This analysis would be invalidated if BAKE breaks through the key support level and closes below it on the daily chart.