PLANETUSDT Breakdown After Wedge, Base Forming for Relief Rally

Following its initial post-listing rally, PLANETUSDT concluded its impulsive ascent within a bearish rising wedge formation, a classical exhaustion pattern. The subsequent breakdown triggered a steep decline, extending well around the 200% Fibonacci extension level, reflecting a structurally violent markdown phase. This collapse established a new low before price found equilibrium within a clearly defined immediate demand zone.

Current price action suggests a potential bottoming structure, with the asset attempting to base and consolidate within this demand region. Should buyers maintain control and price manage a sustained breakout above the descending channel resistance, a corrective leg to the upside becomes increasingly likely.

The short- to mid-term recovery target is situated near the 0.0000090901 level, which coincides with the broader critical supply zone—a region marked by previous heavy distribution. This area is expected to attract significant selling pressure, presenting a likely inflection point for a renewed bearish phase or potential macro rejection.