LIME : TELEGRAM-ECOSYSTEM PUMP LIME USDT has been in a downtrend since November 2021. The price has been respecting the descending channel and making lower highs and lower lows. However, the price recently broke out above the channel and continued to pump on the news of integration with Telegram.
The descending channel:
The descending channel is a bearish pattern that is characterized by two parallel trendlines, one connecting lower highs and the other connecting higher lows. The price typically breaks down below the lower trendline, signaling a continuation of the downtrend.
The breakout:
The price broke out above the descending channel on March 14, 2023. This breakout was confirmed by the increase in volume.
The pump:
The price has continued to pump after the breakout, reaching a high of $0.18 on March 15, 2023. This pump was likely fueled by the news of LIME's integration with Telegram.
The integration with Telegram:
LIME is a decentralized messaging app that is integrated with the Telegram blockchain. This integration allows users to send and receive LIME tokens directly within the Telegram app.
The bullish factors:
The price has broken out of a descending channel.
The breakout was confirmed by the increase in volume.
The price has continued to pump after the breakout.
LIME has integrated with Telegram.
The 4h chart:
The 4h chart shows that LIME is currently consolidating after the pump. This consolidation is likely a shakeout before the next leg up.
The target:
The next target for LIME is $0.22, which is the previous all-time high. Further upside could see the price reach $0.30 or even higher.
