Technical analysis by MyCryptoParadise_Simon about Symbol HIGH: Buy recommendation (12/12/2024)

Yello, Paradisers! Is #HIGH gearing up for a massive breakout, or could we see a bearish trap unfold? Let’s uncover what’s next for #HIGHUSDT:💎The breakout of #HighStreet from the descending channel formation marks a significant turning point. After months of being trapped in a bearish structure, the breakout above the descending resistance line signals a potential trend reversal. However, the $2.547 level now acts as a major resistance zone. A decisive close above this level is crucial for confirming bullish momentum and opening the path toward the next resistance target near $4.50–$5.00.💎If buyers manage to take control and break through the $2.547 barrier, we could see an explosive rally into the $4.50-$5.00 resistance zone, aligning with the key levels of previous price action. This move would confirm the bulls are back in charge and could even set the stage for a larger bullish structure in 2025.💎On the flip side, the $1.600 support level and $1.266 demand zone are critical areas to watch for potential bearish invalidation. A daily candle close below $1.266 would signal a breakdown of the bullish structure, likely driving the price back into the descending channel. This could trigger further selling pressure, pushing the market toward the $0.94 region or lower.Stay focused, patient, and disciplined, Paradisers🥂MyCryptoParadiseiFeel the success🌴