đ„$RARE Is In the Down trend Channelđ„
Current Price: $0.0601
âĄThe price of #RAREUSDT has been moving within a descending channel, indicating a bearish trend over time.
âĄCurrent Price and Resistance:
The current price is $0.0601 USDT, showing a 6.37% increase in the last 24 hours.
Resistance is observed near the top of the descending channel, around $0.0718 USDT, which is also the 24-hour high.
âĄSupport Zone:
The 24-hour low of $0.0542 USDT acts as a support level, where buyers might step in.
The yellow arrow on the chart hints at a potential breakout above the descending channel.
đTrade Setup Possibilities:
Breakout Trade (Bullish Bias):
đEntry (Buy): Above $0.0720 USDT after a confirmed breakout with strong volume.
đąStop Loss: Below $0.0680 USDT.
đTake Profit Targets:
đŻTP1: $0.0750 USDT
đŻTP2: $0.0800 USDT (if momentum continues).
Rejection Trade (Bearish Bias):
đEntry (Sell): If the price gets rejected near $0.0718 USDT.
đąStop Loss: Above $0.0730 USDT.
đTake Profit Targets:
đŻTP1: $0.0570 USDT
đŻTP2: $0.0540 USDT (closer to support).
$RARE is in a descending channel but has shown a recent price increase. A breakout above $0.0718 USDT could signal bullish opportunities, while rejection might lead to further downside. Watching for volume confirmation is crucial to decide the next move.
Disclaimer: #DYOR*
Buy Or Trade With Me On $RARE
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