FXSUSDT → Out of Range. It's up to the bulls

٣ أغسطس ٢٠٢٣

FXSUSDT is squeezed within the consolidation boundaries of 7.174 - 3.910, but at the same time inside the range there is a prerequisite for a possible trend change and price strengthening

A bullish pattern in the format of a "bearish wedge" is forming on the chart. The price is breaking resistance on the background of weak bitcoin. Investors are looking for potential in altcoins during a correction in the cryptocurrency market. Consolidation above 5.866 could form a bullish upside to 7.175, which would form a retest.
In this case, the market will get the potential to break the resistance of the 7.175 range and further growth. There is no pronounced trend, the price is forming a sideways range based on the bottom of 3.910. The market may slowly but try to reverse.

Support levels: 5.866, 3.910
Resistance levels: 7.175
I expect the formation of bullish support with the last retest of 7.175 aimed at the breakout of the range and further growth.

Regards R. Linda!