$CHR $CHR

CHR/USDT Technical Analysis: Key Levels in Focus

Current Price Action: CHR is consolidating within a descending triangle pattern, showing clear price rejection at the horizontal demand zone.

This sets the stage for a crucial decision point.

🔹 Resistance Zone: The Ich Cloud is firmly acting as a resistance barrier, aligning with the upper trendline of the descending triangle. This combination is proving challenging for CHR bulls.

🔹 Breakout Potential: A decisive breakout above the upper trendline and the Ichimoku Cloud could trigger a bullish rally, sending CHR towards higher levels. A strong close above these zones would shift the momentum in favor of the bulls.

Key Levels to Watch:

immediate Support: Horizontal demand zone

Immediate Resistance: Upper trendline Ichimoku Cloud

Risk/Reward Strategy: If a breakout occurs, keep an eye on strong continuation signals. Failure to break out could see CHR retesting the demand zone for a potential double-bottom formation.

Stay alert! A breakout here could lead to significant upside potential.

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