C98USDT → Triangle and consolidation near resistance

6 Apr 2023

C98 / TetherUS forms a triangle before breaking channel resistance. A retest is the whale's plan to break the line and raise the coin.



The price has been trading within the descending channel for a long time. But lately, resistance tests have become more frequent. At the time of the day's acquisition, when price stopped falling we see the formation of a triangle and continued resistance line attacks.
Price is testing again and the daily candle closes close to the level.

Strong resistance: 0.3125 (a break will form a momentum), 0.3800
Strong support: 0.2550, 0.2000
I expect breakout of triangle resistance and price growth against the trend with the subsequent possibility of change of downward movement.
The medium-term target is 0.4500, long-term target is 0.8000.

Regards R.Linda!

7 Apr 2023

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