$CHR

CHR/USDT Technical Analysis: Key Levels to Watch

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 key decision point.

🔹 Resistance: The Ich Cloud is acting firmly as a resistance barrier, aligned 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 rally, taking CHR to higher levels. A strong close above these zones would move the price in favor of the bulls.

Key Levels to Watch:

Immediate Support: Horizontal Demand Zone

Immediate Resistance: Trendline on Ichimoku Cloud

Risk/Reward Strategy: If a breakout occurs, look for strong continuation signals. Failure to break could see CHR retest the demand zone for a potential double bottom.

Be on the lookout! A breakout here could open up significant upside potential.