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

Yello, Paradisers! Will #PERPUSDT rebound from here or continue to plunge? Let’s dive into the current setup 💎#PERP is flashing a bullish signal after breaking out of a falling wedge pattern, a historically bullish structure. The price is now testing the demand zone, and for the upward momentum to continue, PERP needs to rebound and push toward the minor resistance at **$0.732**. A breakout above this level is crucial for sustained upward movement, with our next target at the major resistance area.💎But what happens if PERP can't hold the line? If the price fails to rebound and breaks down below the **$0.497** support area, things could turn bearish quickly. In this case, there's a high probability PERP could revisit the major support zone at **$0.389**. Looking at its historical performance, PERP has consistently rebounded when hitting this major support, so there’s a good chance it could do so again.💎However, the bullish scenario will be invalidated if PERP's daily candle closes below this major support level. This is a crucial zone, as it represents the previous low. If it breaks, PERP could make a new lower low, leading to a deeper dip.Remember, staying disciplined and following clear strategies are essential in these volatile times. MyCryptoParadiseiFeel the success🌴Boom! #ONG is doing just what we said. Up 81.41% and looking good!