💎 BAND has certainly caught our eye, having recently broken out of a bullish flag pattern and subsequently experiencing a substantial rise before facing rejection at the supply zone. Currently, BAND is in a phase of retesting at the demand zone, a critical juncture for its potential to continue the upward trajectory.
💎 A successful defense and rebound from this demand area could easily propel BAND towards the challenging thresholds of the supply and bearish overbought (OB) zones, with high chances of this scenario unfolding.
💎 However, there's a downside risk. Should BAND fail to hold its ground at the demand zone, leading to a breach of this pivotal area, it could trigger a downward spiral for the asset. This bearish turn could significantly push BAND towards the next levels of defense - the support zone, or even further down to the robust support area, marking a more profound retreat in its market position.
💎 A successful defense and rebound from this demand area could easily propel BAND towards the challenging thresholds of the supply and bearish overbought (OB) zones, with high chances of this scenario unfolding.
💎 However, there's a downside risk. Should BAND fail to hold its ground at the demand zone, leading to a breach of this pivotal area, it could trigger a downward spiral for the asset. This bearish turn could significantly push BAND towards the next levels of defense - the support zone, or even further down to the robust support area, marking a more profound retreat in its market position.
Trade closed: target reached
Spot on again! #BAND has climbed 24.24%!
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Do you Want to start trading like a PRO?
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Disclaimer
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