AR/USDT Potential back-test of the support area, Could Bounce ??
Updated
💎AR has undoubtedly captured significant attention in the market. Presently, AR is positioned for a potential back-test of the support area, coinciding with the presence of the support trendline.
💎 Historical data indicates that AR has consistently exhibited a bouncing pattern when encountering the support zone. If this pattern holds once more, there is the potential for AR to break out of the resistance trendline and subsequently breach the key resistance level at 10.74.
💎 A successful breakout of these levels could probability facilitate an easier path for AR to reach our target zone, the bearish OB area.
💎 Conversely, if AR fails to maintain the support area due to a lack of rebound, this could signify a bearish momentum shift. In such a scenario, the price would likely continue its downward trajectory, eventually reaching the demand area, which was previously a supply zone, and thus creating an opportunity for a fresh upward momentum.
💎 It's important to note that should AR achieve a bounce at the demand area, the possibility of a price recovery is viable, potentially allowing for the reclamation of the price above the support. However, if AR fails to rebound at the demand level and instead breaks down below it, this would confirm a bearish movement, resulting in further downward price action.
💎 Historical data indicates that AR has consistently exhibited a bouncing pattern when encountering the support zone. If this pattern holds once more, there is the potential for AR to break out of the resistance trendline and subsequently breach the key resistance level at 10.74.
💎 A successful breakout of these levels could probability facilitate an easier path for AR to reach our target zone, the bearish OB area.
💎 Conversely, if AR fails to maintain the support area due to a lack of rebound, this could signify a bearish momentum shift. In such a scenario, the price would likely continue its downward trajectory, eventually reaching the demand area, which was previously a supply zone, and thus creating an opportunity for a fresh upward momentum.
💎 It's important to note that should AR achieve a bounce at the demand area, the possibility of a price recovery is viable, potentially allowing for the reclamation of the price above the support. However, if AR fails to rebound at the demand level and instead breaks down below it, this would confirm a bearish movement, resulting in further downward price action.
Trade closed: target reached
Just as predicted, #AR's up a smooth 314.80%!
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