📉 #REZ /USDT – Double Bottom Pattern or Downtrend Continuation? 🚀

The daily chart for REZ/USDT displays potential accumulation near the current low, signaling a possible double bottom pattern. However, bearish sentiment remains strong.

💰 CMP: $0.03259 (+4.46%)

📊 Key Technical Observations:

•Double Bottom Support:

•First low formed in October 2024, retested recently around $0.032.

•Neckline Resistance: $0.0445 – A breakout is needed to confirm the bullish reversal.

•Bearish Channel: Still trading under a descending resistance line.

🛠 Indicator Insights (Fortune AI Trading Indicator):

1️⃣ RSI: At 37.71, indicating oversold conditions but no clear divergence yet.

2️⃣ ADX: Showing a strong bearish trend with a value of 26.46.

3️⃣ MFI: Neutral at 38.87, reflecting a balanced volume and price movement.

4️⃣ MACD: Indicates high reversal risk, with bearish momentum prevailing.

5️⃣ Volatility: Ranging ⚠️ – Uncertain conditions with no clear trend breakout yet.

6️⃣ Timeframe Trends:

•15m: Bearish

•1h: Bearish

•4h: Bearish

•Daily: Bearish

🔮 Possible Scenarios:

•Bullish Reversal: A breakout above $0.0445 could lead to targets around $0.08–$0.10.

•Bearish Continuation: Failure to hold $0.032 may result in lower lows around $0.020 or beyond.

🚨 Strategy Suggestions:

•For Bulls: Watch for a breakout above $0.0445 with volume confirmation and increasing bullish momentum.

•For Bears: Monitor closely near $0.032; a breakdown could accelerate selling pressure to the downside.

⚙️ Tools Used: Fortune AI Trading Indicator for trend analysis, momentum evaluation, and volume insights.

⚡️ Will $REZ /USDT reverse or continue its downtrend? Share your thoughts below! 👇