WABI/USD (Weekly Major Support)

💎Technical Analysis Summary💎


WABI/USD

-After a strong rally up to 1 dollar last March 2021 pick high
-The price has come back to its major support area around 0.08-0.06 dollar
-I have plotted a descending channel from the pick high down to the current price levels
-We can see the bulls is always been rejected by the trendline resistance
-If the bulls can break outside this channel, expect a potential upside rally immediately
-But if a repeat failure happens, a retest of the recent low at 0.085 is in play
-My current bias is sideways price action to bearish movement in the next few weeks
-Until we see a strong break out of this channel the market sentiment remains to the bears
-But if you are accumulating this coin, please make sure you have a stop loss below major support
-Alright, Good luck traders, and stay safe!






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