Could STXUSDT Be on the Verge of a Major Rebound?

Jul 5

Yello, Paradisers! Is #STXUSDT about to make a dramatic move? Let’s dive into the analysis to see what’s happening.

💎Currently, #STX is lying on a strong support zone. The probability of a rebound from here is high if the daily candle closes with a bullish rejection. Should this occur, the price is likely to reverse upward, testing the supply zone around 1.8 and the descending resistance area.

💎If STX successfully breaks out of the descending resistance, it could indicate a strong momentum shift. This breakout might also lead to a breach of the supply zone. A successful break above the supply zone would confirm a bullish reversal, with a high probability of the price reaching our target at the strong resistance area.

💎However, if STX fails to break the descending resistance or fails to rebound from the support, we could see a move towards the order block (OB) area. The OB area is crucial as it likely contains large orders that could lead to a significant rebound. For the price to continue its upward movement, reclaiming the support zone is necessary.

💎Conversely, if STX breaks below the OB area and the daily candle closes beneath it, this would confirm a bullish invalidation, signaling a continuation of the bearish trend and a potential further dip.

Stay vigilant, traders, and remember that discipline and patience are key to navigating these market moves successfully.

MyCryptoParadise
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