LYXUSDT Breakout | Is a Bullish Rally Imminent or Will It FalterYello! Are you ready to dive into the latest action on #LYXUSDT? Let's dive into the latest analysis of LYX and see what might be next for #LUKSO.
💎Previously, #LYXUSDT has been trading within a descending channel pattern on the 12H timeframe. LYXUSDT has broken out of the descending channel and retested the breakout zone. This pattern is often a precursor to a bullish run, especially with the 50-EMA reinforcing this outlook.
💎Currently, #LUKSO is testing a significant resistance level. A break above this could propel the price toward the upper supply zone, with a target around the strong resistance at $3.7000.
💎If $LYX fails to breach the current resistance, expect a retest of the Bullish Order Block (OB) around $2.3455. This level is a critical support zone and could provide a solid base for renewed bullish activity.
💎However, if the $2.3455 support fails, the next major support to watch is $2.0071. This area is crucial, packed with liquidity, and could spark a bullish rally if tested.
💎In case the $2.0071 support level also fails, it could invalidate the bullish setup, leading to a bearish trend. Keep an eye on the overall market sentiment and Bitcoin's movement, as these will significantly influence #LYX's price action.
Stay focused, patient, and disciplined, Paradisers!
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