🚨😳😳$WIF /USDT 😳😳🚨🤑

$WIF is currently displaying a consolidation phase within a rectangular range, as indicated by the purple zones, following a prior downtrend. The price is nearing the lower boundary of this consolidation, suggesting a possible bearish breakout.

Trend Explanation:
- Current Trend:The price is moving sideways in a range-bound pattern after a decline, indicating indecision in the market.
- Resistance:The upper purple rectangle highlights the resistance area, where the price has been unable to break higher.
- Support:The lower purple rectangle marks the support area, which has been holding the price up so far.
Breakout Analysis:
- Bearish Breakout:The yellow arrows indicate a potential breakdown below the current support level. If the price breaks below the support zone, it could lead to further downward movement.
- Downward Move:A confirmed breakout below the support might drive the price down to the white line, which could act as the next support area around the $1.45 mark.
This setup suggests that traders should watch for a breakout confirmation below the support level, which could signal further downside potential for WIF/USDT.
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