PEOPLEUSDT Long Term Channel Formation

PEOPLE is structurally confined within a well-defined descending channel. Price action recently reacted off a weak support level, prompting a corrective bounce targeting the immediate supply zone around 0.01777.

However, unless a significant bullish breakout occurs, rejection from this zone is highly probable and could sustain bearish momentum. A continuation to the projected drop target near the 0.00620 region appears likely, aligning with the lower boundary of the channel. This zone offers a high-probability area for long-term accumulation.

Should the projected path unfold as illustrated, a gradual multi-phase bullish structure may emerge, targeting 0.02482, 0.04995, and ultimately testing the upper boundary near 0.09071.