📉 Technical Analysis of the asset C/USDT: Descending Wedge 📈



The chart is forming a "descending wedge" pattern, which is often considered a bullish reversal pattern. Two converging downward trend lines narrow the price movement — a potential signal for a breakout upward.

📊 Indicators:

MA 7, 25, 99: The price is below all MAs, confirming a downward trend; however, MA 7 crosses MA 25 from below to above — a possible early reversal.

Ichimoku: Price is below the cloud, which strengthens the bearish scenario. Chikou Span is below the price - the trend is still downward. However, the thin cloud may herald an imminent impulse.

🔍 Key levels:

Support: 0.2981 – 0.2947 — possible bounce zone.

Resistance: 0.3063 – 0.3058 + upper boundary of the wedge + MA + Kumo.

📌 Withdrawal:

The trend is still bearish, but the descending wedge + thin cloud indicate a chance of a reversal upwards.

Break above 0.3063 and the trendline = long signal.

Break below 0.2947 = continuation of the decline.

⚠️ DYOR. Not financial advice.
MA-3.01%
CLOUD6.51%
MAY0.79%
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