Alikze »» PYTH| Descending channel failure

🔍 Technical analysis: Descending channel failure

- It has been moving in a downward channel in the 8H time frame and daily.

- Currently, with the failure of the channel roof, it is around the supply area and neck line.

- Therefore, in case of a negative reaction, it can be broken into the channel with pullback and touch the specified targets by maintaining the 0.29 area.

💎 Alternative scenario: In addition, if it stabilizes below the 0.29 area, it can retest the green box.

🛑 Targets: 0.39 - 0.44 and supply area or red box.
🟩 Support: 0.29

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註釋

In line with the predicted trajectory, after failing to break the supply zone, with a reversal, it is currently touching the first target by more than 20%.