#XVS has been trading within a descending channel on a daily timeframe. Throughout this formation, the price has consistently respected the trendlines. We anticipate a significant breakout due to the recent push #XVS received from a successful retest of the channel's lower support.
If #XVS can break above the descending resistance, supported by the liquidity at $9, we could witness a strong bullish move. This breakout would signal a potential trend reversal and align with our bullish outlook.
Should the current resistance hold, we might see a retest of the support level at $5. This could provide the necessary rally for a breakout. You need to watch for signs of strong buying interest at this level as an indicator of a potential upward move.
