LMR/USDT Possible Move

28 בנוב׳ 2023

Upon examining the 4-hour chart for LMR/USDT, we can observe that the price has been on an upward trajectory since the 16th, followed by a period of consolidation forming a descending channel pattern. This pattern often signals a continuation of the preceding uptrend if a breakout occurs to the upside, or a further downtrend if the price breaks below the channel.

Predictions :

1. If the price respects the lower trend line of the channel and bounces, we could see a move back towards the upper boundary of the channel.
   
2. A breakout above the channel may set the stage for a continuation of the uptrend, targeting the previous high as a profit target.
   
3. Conversely, a break below the channel could indicate further bearish momentum, potentially setting new lows.