XTZ/USDT Ready for a Massive Breakout After Prolonged Downtrend!Technical Analysis (1D Timeframe):
The XTZ/USDT pair is forming a well-defined descending triangle pattern, with sustained selling pressure since late 2024. However, the price action is now signaling a potential breakout as it approaches the apex of the triangle, supported by a strong accumulation zone around $0.4720–$0.5247.
🔍 Analysis Details:
Descending Trendline Resistance: Price has repeatedly failed to break above the descending resistance line since December 2024. It is now testing the edge of the triangle, which typically precedes a significant breakout.
Strong Support Zone: The consolidation zone between $0.4720 and $0.5247 has acted as a key accumulation area, successfully holding off bearish momentum.
Potential Breakout: A breakout above the triangle resistance, especially with confirmation above $0.5797, could trigger a strong bullish rally toward the next resistance levels.
🎯 Target Resistances (Upon Confirmed Breakout):
1. $0.5797 – Initial breakout confirmation
2. $0.6326 – Minor resistance
3. $0.7281 – Significant resistance from previous structure
4. $0.9145 – Medium-term bullish target
5. $1.0445 – Strong resistance zone
6. $1.2022 – Final breakout target
⚠️ Note:
A valid breakout requires a daily candle close above the descending trendline, ideally supported by volume confirmation. A pullback to the breakout zone may occur and could offer a second entry opportunity.
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