FXS/USDT Could the support area sustain the price and bounce ?
Updated
💎 FXS has notably captured market attention, but its current state raises some concerns. FXS has returned to a retesting phase at the support area, and this development is worrisome as FXS recently only managed to consolidate above this support level. There's a risk that FXS might break down below the support, potentially confirming a false breakout.
💎 However, there's a silver lining: if FXS, upon returning to the support area, manages a strong bounce, it could pave the way for a resumption of its upward trajectory, with probability aiming for our target in the bearish OB area.
💎 Should a false breakout be confirmed, FXS's path might be directed downwards, heading back toward the support area. At this juncture, a robust recovery is essential. FXS needs to demonstrate a strong bounce and reclaim the resistance to continue its upward movement. Failing this, there's a possibility that FXS might extend its downward trend, potentially breaking down below the support level and moving towards a stronger demand area.
💎 However, there's a silver lining: if FXS, upon returning to the support area, manages a strong bounce, it could pave the way for a resumption of its upward trajectory, with probability aiming for our target in the bearish OB area.
💎 Should a false breakout be confirmed, FXS's path might be directed downwards, heading back toward the support area. At this juncture, a robust recovery is essential. FXS needs to demonstrate a strong bounce and reclaim the resistance to continue its upward movement. Failing this, there's a possibility that FXS might extend its downward trend, potentially breaking down below the support level and moving towards a stronger demand area.
Trade closed: target reached
Boom! #FXS is doing just what we said. Up 34.72% and looking good!
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