Key Resistance Zone: The chart highlights a strong resistance around 62,811 - 62,838 USDT, where price is expected to struggle to break higher. This area is a potential zone to look for sell setups if price retests it.
Support Zone: The green highlighted area around 60,000 USDT acts as a crucial support zone. The price is consolidating within this area, and the next move depends on whether it breaks below or holds above this support.
Bearish Scenario: If the price breaks below the support zone (around 60,000 USDT), the next target would be around 53,924 - 53,821 USDT (marked in red), a lower support area.
Bullish Retest: In case the price moves up and retests the resistance at 62,838 USDT, this could provide an opportunity for a sell-off, anticipating a reversal back down towards the lower support.
This chart shows a neutral consolidation with potential for either a breakout to the downside or a bearish retest of resistance.
Support Zone: The green highlighted area around 60,000 USDT acts as a crucial support zone. The price is consolidating within this area, and the next move depends on whether it breaks below or holds above this support.
Bearish Scenario: If the price breaks below the support zone (around 60,000 USDT), the next target would be around 53,924 - 53,821 USDT (marked in red), a lower support area.
Bullish Retest: In case the price moves up and retests the resistance at 62,838 USDT, this could provide an opportunity for a sell-off, anticipating a reversal back down towards the lower support.
This chart shows a neutral consolidation with potential for either a breakout to the downside or a bearish retest of resistance.
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