MOVR/USDT Approaching Key Resistance Levels

17 nov.

hello guys!

Trend Breakout: The price broke above the long-term descending trendline, signaling a potential shift to bullish momentum.

Current Range: The asset is trading within an ascending channel, with the lower boundary around $10 and resistance near $16-$18.

Support Zone: A strong demand zone (S&D) around $7-$8 has acted as a launchpad for the recent upward movement.

Resistance Area: $16-$18 represents a significant supply zone, as highlighted. A breakout above this level could lead to a rally toward $20 and beyond.

Possible Scenarios:

• A continuation within the channel with a potential retest of the $12-$13 area before another leg upward.
  
• A breakout above $18, confirms bullish dominance.
  
• Failure to hold within the channel could push the price back toward the $10 or $7-$8 support zones.