MOVR/USDT Approaching Key Resistance Levels
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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:
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.
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