FIL/USDT – Major Trendline Breakout Imminent?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.
