RLinda ! CHZUSDT-> A breakout is expected. What will be target?

7 Okt 2022

CHZUSDT forms a downward price channel after the change of the local upward correction, which coincides with the global trend. It can be assumed that the coin is dominated by sellers and the fall can continue.

The global chart tries to show us the growth attempts and preconditions for the change of the trend to the uptrend, what we have: an active growth after the price stopped at 0.083 and a gradual renewal of the local minimum with an increase of the volume in September. But about the change of the global trend we can think only after the price comes above 0.3250 and is able to hold its positions.

On the local chart we have an interesting pattern, which in simple terms is called the "descending triangle." The support is at the level of 0.2122, which was formed on October 3. The price is pushing down to the limit level, forming a set of energy for a breakdown of the support. And I am inclined to expect a break-down.

I assume that the price can break through the support at 0.2122 and continue its movement within the descending channel in the nearest future. I consider the important liquidity zone 0.1821 as my target.

Sincerely R. Linda!