LPT/USDT Keep an eye on the support, potential bounce back to UP

💎 LPT has recently encountered significant market dynamics, experienced rejection and forming a double-top pattern in the hourly timeframe. If this pattern holds true, there is potential for LPT to undergo a retest of the support area around 16.5.

💎 If LPT shows signs of bullish rejection at the support, such as forming bullish candle patterns, there is potential for the price to bounce and resume its upward trajectory, potentially testing the strong resistance area once again.

💎 However, if LPT fails to bounce when it reaches the support area, and even breaks down below it, it would signal bearish momentum, with the price potentially targeting the demand area.

💎 When LPT reaches the demand area, it must bounce and reclaim the area above the support at 16.5. A successful bounce would indicate a potential return to upward movement. However, failure to do so could lead to continued downward movement, with the price potentially declining further.