#AUCTION/USDT — Major Accumulation or Bearish Continuation?

#AUCTION

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 trend 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 5.00, 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: 5.25
First Target: 5.37
Second Target: 5.51
Third Target: 5.70

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

Remember a simple principle: Money Management.

For any questions, please leave a comment.

Thank you.