The FIL/USDT chart is showcasing a significant descending trendline that has been respected since its peak in late December 2024. Price action has recently approached this trendline again, and a potential breakout scenario is forming. This setup may signal a major shift in trend after months of persistent decline.
🔍 Technical Analysis:
Trendline Resistance:
The long-term descending yellow trendline has capped every bullish rally since early 2025. A breakout above this trendline would be a major bullish technical signal.
Support Level:
Key horizontal support has been held at around $1.96, which has formed a strong base.
Potential Breakout Projection:
Upon breakout, $2.746 is the first resistance to watch.
A successful retest of this level could lead to a stair-step rally targeting:
$3.222
$3.537
$4.803
$5.863
$6.758
And potentially $8.069–$8.425 if momentum continues.
Bullish Pattern:
The projected move shows a potential impulse wave pattern following the breakout, indicating staged profit-taking zones for traders.
🧠 Strategic Consideration:
A daily candle close above the trendline with volume confirmation would be the first sign of trend reversal.
Conservative traders may wait for a retest of the trendline as support before entering.
Targets can be approached progressively based on price action near each resistance level.
⚠️ Risk Management:
Watch for fakeouts near the trendline.
A break below the key support of $1.96 would invalidate the bullish thesis.
🔍 Technical Analysis:
Trendline Resistance:
The long-term descending yellow trendline has capped every bullish rally since early 2025. A breakout above this trendline would be a major bullish technical signal.
Support Level:
Key horizontal support has been held at around $1.96, which has formed a strong base.
Potential Breakout Projection:
Upon breakout, $2.746 is the first resistance to watch.
A successful retest of this level could lead to a stair-step rally targeting:
$3.222
$3.537
$4.803
$5.863
$6.758
And potentially $8.069–$8.425 if momentum continues.
Bullish Pattern:
The projected move shows a potential impulse wave pattern following the breakout, indicating staged profit-taking zones for traders.
🧠 Strategic Consideration:
A daily candle close above the trendline with volume confirmation would be the first sign of trend reversal.
Conservative traders may wait for a retest of the trendline as support before entering.
Targets can be approached progressively based on price action near each resistance level.
⚠️ Risk Management:
Watch for fakeouts near the trendline.
A break below the key support of $1.96 would invalidate the bullish thesis.
✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.