LQTY/USDT Break out the descending pattern. Bullish Momentum ???

28 nov 2023

💎 LQTY has certainly garnered a lot of interest in the market. It has recently broken out of a descending channel pattern and is now likely to undergo a retesting phase at the resistance trendline of the descending channel, which could set the stage for further upward movement.

💎 If LQTY successfully completes this retesting phase, signified by a bounce and continued upward trend, the next target to watch is the resistance level around $1.56. A breakout above this resistance, probability could streamline LQTY's journey toward our projected supply area.

💎 However, should LQTY fail to breach the $1.56 resistance, there's a possibility that it might revert downwards, potentially heading back to the support level area around $1.27.

💎 At the $1.27 support area, it's crucial for LQTY to show a robust recovery. If it only consolidates without a significant bounce, there's a risk that LQTY could lose this support level and continue its descent towards a stronger demand zone.