#BAKEUSDT has been trading within a descending channel on a daily timeframe. Throughout this formation, the price has consistently respected the trendlines. We anticipate a significant breakout due to the recent push received from a successful retest of the channel's lower support.
If $BAKE can break above the descending resistance, supported by the liquidity at $0.36, we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook.
Should the current resistance hold, we might see a retest of the support level at $0.1860. This could provide the necessary rally for a breakout. You need to watch for signs of strong buying interest at this level as an indicator of a potential upward move.
If both support levels fail, BAKEUSDT could face increased bearish pressure, leading to further declines. In this scenario, monitoring lower support zones becomes crucial to gauge the extent of the downward move.
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