Melania/USDT: Is There Hope for Recovery?
The chart for Melania/USDT shows a clear descending channel, reflecting the coin's ongoing downtrend. With lower highs and lower lows dominating the action, the price is struggling to break free from this bearish structure. I’ve done my best to chart this with the limited data available since the coin is new.
Key Levels to Watch:
Support: $3.304 serves as the lower boundary and a critical support level to hold. A break below could trigger further downside.
Resistance: $4.146 is the first hurdle within the channel, while $7.097 represents a significant resistance level that needs to be reclaimed for a potential trend reversal.
The descending price channel highlights the controlled nature of this downtrend, with resistance and support levels acting as key points for price action. To all of you who bought at the top, I truly feel bad it’s never easy being on the wrong side of a sharp decline.
For now, the price is testing critical support, and a breakout above the channel is needed to spark hope for recovery. Until then, caution remains the best approach.
What’s your take? Can Melania/USDT find its way back, or is the downtrend here to stay? 🚀 or 📉?
Key Levels to Watch:
Support: $3.304 serves as the lower boundary and a critical support level to hold. A break below could trigger further downside.
Resistance: $4.146 is the first hurdle within the channel, while $7.097 represents a significant resistance level that needs to be reclaimed for a potential trend reversal.
The descending price channel highlights the controlled nature of this downtrend, with resistance and support levels acting as key points for price action. To all of you who bought at the top, I truly feel bad it’s never easy being on the wrong side of a sharp decline.
For now, the price is testing critical support, and a breakout above the channel is needed to spark hope for recovery. Until then, caution remains the best approach.
What’s your take? Can Melania/USDT find its way back, or is the downtrend here to stay? 🚀 or 📉?
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Feragatname
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