THEUSDT Predication & Next Move
Ali Baloch
From the chart provided, the following can be observed:
1. Descending Triangle Pattern: The price is moving within a descending triangle, which is a bearish continuation pattern. The price has broken below the horizontal support level (blue line), which could signal further downward movement.
2. RSI Indicator: The RSI is near oversold levels, indicating potential exhaustion of selling pressure. However, oversold conditions do not always guarantee a reversal.
3. Support and Resistance Levels:
- Immediate Resistance: Around 2.99.
- Immediate Support: If the bearish breakout confirms, the next support could be at lower levels.
Prediction
- If selling pressure continues and the break below support holds, the price may test lower support levels.
- If the RSI signals a rebound and buyers step in, the price could retest the 2.99 resistance.
It's essential to monitor volume and news/events affecting the asset for further confirmation.