OGNUSDT Breakout Alert Descending Trendline Reversal
📊 Pattern and Market Structure
Descending Trendline Breakout:
OGN has successfully broken out of a long-standing descending trendline, signaling a potential shift from a bearish to a bullish trend.
Strong Accumulation Zone / Key Support:
The price has consistently respected the $0.04268 - $0.05402 support area, forming a solid demand zone with multiple rejections and prolonged consolidation.
Potential Reversal Formation:
A double bottom / base consolidation pattern seems to be forming within the support zone, reinforcing the likelihood of a bullish reversal.
📈 Bullish Scenario
If the breakout is confirmed (price holds above and successfully retests the trendline), the bullish targets will be:
1. $0.06229 – minor resistance, likely first retest area.
2. $0.07000 - $0.07432 – previous horizontal resistance zone.
3. $0.08118 – prior distribution zone.
4. $0.09500 - $0.10302 – mid-range supply zone.
5. $0.11000 - $0.12733 – medium-term potential target.
6. $0.14601 - $0.16232 – longer-term target on strong momentum.
📌 A daily candle close above $0.06229 with significant volume could confirm further bullish continuation.
📉 Bearish Scenario
If the breakout turns out to be a false breakout, and price falls back below the support zone ($0.05402):
Expect a drop toward:
$0.04268 – the next major support level.
A breakdown below this may lead to $0.03800 or the formation of a new lower low.
Possible bearish triggers:
Rejection at $0.06229 or above.
Weak breakout volume.
Overall bearish sentiment in the crypto market.
📌 Conclusion:
The descending trendline breakout indicates a potential bullish reversal.
Strong support at the base adds confluence to the setup.
Bullish scenario currently has higher probability, but confirmation and volume are crucial for sustained upside.
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