Luncusdt is currently trading within a downtrend channel, with the price expected to test the immediate supply area of 0.0001596. If the price fails to break this level, it's expected to continue dropping towards the Landing Zone, which can be used for potential long accumulation.
It's important to note that a breakout from the downtrend channel could signal a potential trend reversal. We should keep an eye on the immediate supply area and wait for a clear breakout before considering a long position. The overall target for the downtrend channel is the midterm price target zone as shown on the chart.
It is a must to watch the price action carefully and consider the risk-reward ratio before making any trading decisions.
It's important to note that a breakout from the downtrend channel could signal a potential trend reversal. We should keep an eye on the immediate supply area and wait for a clear breakout before considering a long position. The overall target for the downtrend channel is the midterm price target zone as shown on the chart.
It is a must to watch the price action carefully and consider the risk-reward ratio before making any trading decisions.
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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.