Technical update for currency #EPICUSDT
As we mentioned earlier, after breaking the resistance area at 0.695, we witnessed the expected decline toward the levels we identified. Here's a look at the current situation and upcoming scenarios:
📍 Current Status:
The price is currently trading around the 0.615 - 0.595 zone. This area is considered a potential reversal zone (historical support and close to the previous low shown on the chart).
📉 Expected Scenarios:
Bullish Scenario (Reversal): Stabilization above the 0.595 zone could trigger a corrective upward move to test the previously broken resistance levels.
Bearish Scenario (Support Break): If a 4-hour/daily candle closes below the 0.590 zone, a continued decline toward the 0.490 - 0.480 levels (the red line shown in the first chart) is expected.
⚠️ Trading Strategy:
Current Entry Point: These reversal zones are suitable for risk-takers.
Stop Loss (SL): It is advisable to activate the stop loss at 0.580. A close below this level completely invalidates the reversal outlook.
Next Target in Case of Break: The 0.490 zone.
Note: Technical analysis is an opinion to assist you in decision-making, and the market is always volatile.
And Allah knows best#Binance