VIRTUALUSDT → Rebound from resistance. Trend break, U-turn?

6 Mei

VIRTUALUSDT.P is pausing within an uptrend and forming a range within which signals of a possible reversal and decline are appearing.



Bitcoin is pausing its rally and moving into correction. This is a negative development for altcoins, which will not grow without the flagship.
VIRTUAL is consolidating, but pressure is building in the market (as can be seen from the cascade of resistance levels within the range). Another prerequisite for a breakdown of the market structure is a downward exit from the upward channel (a break of the trend support). Another retest of support at 1.581 could trigger a breakout and a fall. There is a fairly free zone below, and the nearest target is located in the 1.178 zone.

Resistance levels: 1.72, 1.829
Support levels: 1.581, 1.416, 1.178

Focus on the current range of 1.581 - 1.829. The chart shows that the price continues to storm and test support, which is an important signal against the backdrop of a broken uptrend. A break of support at 1.581 and consolidation below this level could trigger liquidation and a fall to the fvg zone or the liquidity zone at 1.178.

Best regards, R. Linda!

6 Mei

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