BAKE/USDT on the 1D timeframe, exhibiting a descending triangle pattern. Here's the analysis:

1. Descending Triangle:

The price is forming lower highs, suggesting selling pressure.

There is a strong horizontal support line at approximately $0.25.

2. Support Level:

The price has tested this support level multiple times, indicating buyers are defending this zone.

If the support breaks, there could be a downside move, potentially heading towards the $0.20 region or lower.

3. Resistance:

The descending trendline acts as resistance. A breakout above this line could trigger a bullish move.

4. Volume:

Volume has decreased as the pattern forms, which is typical of triangle formations. A breakout could be confirmed with increased volume.

Possible Scenarios:

Bullish Case: A breakout above the descending trendline could target the $0.30 - $0.35 range, with a potential retest of $0.45 in the longer term.

Bearish Case: A breakdown below the $0.25 support might lead to a decline towards $0.20 or lower, with a bearish continuation.

Keep an eye on the breakout direction and volume for confirmation!

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