Is LPTUSDT Poised for a Major Breakout or a Fakeout?
Yello, Paradisers! Ready to dive into the latest on #LPTUSDT? We've been watching closely as LPT shows some promising bullish signs? Let's break it down.
đź’Ž#LPT has successfully broken out of a descending resistance, which is a positive momentum shift. The struggle to break the trendline was evident, and now, all eyes are on one crucial confirmation, if the price successfully breaks out above the $12.82 resistance level, we could see a significant upward movement. This could lead LPT to easily reach our target at the strong resistance area.
đź’ŽBut let's not get too comfortable just yet. The worst-case scenario would be a fakeout, where LPT fails to hold above this breakout level. If that happens, there's a high probability that the price will revisit the strong support area, which could spell trouble. Last time, LPT rebounded significantly after hitting this strong support, so we could see history repeat itself in the coming days.
đź’ŽHowever, if the daily candle closes below the strong support area, this would invalidate the bullish outlook. In that case, we could be looking at a continuation of the downward trend, with prices dipping further.
Stay sharp, and remember that in trading, patience and discipline are key.
MyCryptoParadise
iFeel the success🌴
đź’Ž#LPT has successfully broken out of a descending resistance, which is a positive momentum shift. The struggle to break the trendline was evident, and now, all eyes are on one crucial confirmation, if the price successfully breaks out above the $12.82 resistance level, we could see a significant upward movement. This could lead LPT to easily reach our target at the strong resistance area.
đź’ŽBut let's not get too comfortable just yet. The worst-case scenario would be a fakeout, where LPT fails to hold above this breakout level. If that happens, there's a high probability that the price will revisit the strong support area, which could spell trouble. Last time, LPT rebounded significantly after hitting this strong support, so we could see history repeat itself in the coming days.
đź’ŽHowever, if the daily candle closes below the strong support area, this would invalidate the bullish outlook. In that case, we could be looking at a continuation of the downward trend, with prices dipping further.
Stay sharp, and remember that in trading, patience and discipline are key.
MyCryptoParadise
iFeel the success🌴
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Follow a team of traders with 10+ years of experience?
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🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV
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