PHA/USDT Showing Positive Signs to Breakout From a Falling Wedge

4 พ.ค.

💎Paradisers, #PHA is compressed between falling wedge trendlines and gaining momentum for a breakout.

💎Once it breaks out, we'll wait for a retest for confirmation before planning our trade. The retest phase often follows a breakout and provides an excellent opportunity to validate bullish momentum. If #PhalaNetwork holds support at $0.166 and continues its upward climb, the next target lies in the resistance zone we've projected.

💎However, if #PHAUSDT struggles to maintain support and dips back into the wedge, it will indicate a weakening bullish trend. In this scenario, the price may drop further to the next significant support level, around $0.146.

💎Historically, PHA has shown resilience by rebounding decisively from this level. If this pattern holds, a strong bounce could occur. However, a decisive candle close below this support will challenge the bullish outlook and signal a shift toward a more bearish trend.

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