#LDO/USDT — Critical Retest at Demand Zone vs Long-Term Downtr

2 days ago

#LDO

The price is moving in a descending channel on the 1-hour timeframe. It has reached the lower boundary and is heading towards a breakout, with a retest of the upper boundary expected.

We are seeing a bearish bias in the Relative Strength Index (RSI), which has reached near the lower boundary, and an upward bounce is expected.

There is a key support zone in green at 0.5635, and the price has bounced from this level several times. Another bounce is expected.

We are seeing a trend towards stabilizing above the 100-period moving average, which we are approaching, supporting the upward trend.

Entry Price: 0.5673
First Target: 0.5757
Second Target: 0.5850
Third Target: 0.5992

Remember a simple principle: Money Management.

Place your stop-loss order below the green support zone.

For any questions, please leave a comment.

Thank you.

17 hours ago

Trade closed: target reached

#LDO
First Target: 0.5757 Reached
Second Target: 0.5850 Reached
Third Target: 0.5992 Reached