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XVG is exhibiting a classic rising wedge pattern on the 5-hour chart—a formation that often signals a potential bearish reversal. The price action shows a steady climb with higher highs and higher lows, hinting at market consolidation. However, this pattern frequently precedes a significant downward move.
Currently, the price hovers near the wedge's support line but has yet to test it. The tightening range indicates mounting pressure, suggesting a decisive breakout is imminent.
📉 Bearish Scenario:
A break below the wedge’s support could unleash strong bearish momentum, potentially triggering a sharp sell-off. If this happens, XVG may face a steep decline, aligning with the historical tendencies of this pattern.
Stay vigilant for the breakout—it could set the tone for XVG's next big move!
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Liquidity behaves like a magnet, drawing the price toward areas of high interest as the market gravitates toward them. In this case, the price is moving downward and appears set to target the liquidity around the $0.014 level.
Signal Type : Short
Entry: 0.0146 or market price
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1st Tp: 0.0155
2nd Tp: 0.0175
3rd Tp :0.0192
SL: 0.0122
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