A potential formation has developed on the chart for the asset. If the price successfully closes above 0.7 cents, it could pave the way for a new all-time high (ATH). This breakout level serves as a critical resistance zone, and surpassing it with sufficient volume may trigger a bullish rally.
Alternatively, if the formation holds and price action respects the support levels, the pattern might play out as expected, potentially leading to a significant price surge. However, traders should remain cautious and monitor the breakout level closely. Without a strong daily close above 0.7 cents, the pattern may face invalidation.
