SUSHI/USDT Could Bounce from the support and break the pattern ?
Updated
💎SUSHI has recently demonstrated noteworthy market dynamics. It is currently positioned on the support trendline of a Bullish pennant pattern, which is typically considered a bullish pattern.
💎 Furthermore, the daily close shows a hammer candlestick, suggesting potential bullish momentum if today's candle closes in the green.
💎 In such a scenario, SUSHI may climb upward toward the resistance of the pattern in an attempt to break out. A successful breakout probability could lead to a test of the strong resistance area.
💎 However, if SUSHI breaks below the support trendline, it will invalidate the Bullish pennant pattern, and there is potential for the price to move downward toward the demand area at 0.87, initiating a new momentum.
💎 The demand area holds significance as it may serve as a potential bounce point for the price, allowing it to reverse and move upward. Nevertheless, if the demand area is breached, this would be a bearish signal, indicating that the price is likely to continue its downward trajectory, ultimately reaching the strong support area.
💎 Furthermore, the daily close shows a hammer candlestick, suggesting potential bullish momentum if today's candle closes in the green.
💎 In such a scenario, SUSHI may climb upward toward the resistance of the pattern in an attempt to break out. A successful breakout probability could lead to a test of the strong resistance area.
💎 However, if SUSHI breaks below the support trendline, it will invalidate the Bullish pennant pattern, and there is potential for the price to move downward toward the demand area at 0.87, initiating a new momentum.
💎 The demand area holds significance as it may serve as a potential bounce point for the price, allowing it to reverse and move upward. Nevertheless, if the demand area is breached, this would be a bearish signal, indicating that the price is likely to continue its downward trajectory, ultimately reaching the strong support area.
Trade closed: target reached
Another win! #SUSHI up 76.07%, as forecasted!
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