Technical analysis by MyCryptoParadise about Symbol LQTY: Buy recommendation (9/7/2024)

Yello, Paradisers! Could this be the moment for #LQTYUSDT to bounce back, or is there a deeper dive coming? Let’s dive in!💎#LQTY has broken out of the falling wedge, a classic bullish reversal pattern, and also cleared the previous lower low (LL). This signals a strong potential for upward momentum. If the price holds steady at the current demand zone, we could see a rebound and continuation of the uptrend, potentially making a new higher high. Our target? The strong resistance area, where the highest probability for resistance lies.💎However, if LQTY fails to hold this demand zone, particularly around the 0.655 area, we might witness a breakdown. In this scenario, the price could drop to test the key support level at 0.48. This is a critical area, as it's the lower low from previous price action, and any breakdown here would signal trouble for bulls. A bounce is essential to recover and maintain bullish sentiment.💎But beware bullish invalidation will kick in if the daily candle closes below 0.48. This would suggest a continuation of the downtrend, likely creating a new **lower low** and potentially pushing the price even deeper. Consistency, patience, and a clear strategy are the keys to navigating this market successfully.MyCryptoParadiseiFeel the success🌴