Technical analysis by Magic_xD about Symbol MAJOR: Buy recommendation (2/17/2025)

Hello dear traders, you deserve an update to the previous chart here Update: The pair is currently trading around $0.1931, consolidating within a range-bound structure after a sharp downtrend. The price is hovering near the 540° Gann level ($0.1972) and 570° Gann level ($0.1532), forming a potential accumulation zone. This setup suggests that the market is in a decision phase, awaiting a catalyst to either break out or continue the downward momentum. Let’s analyze the key Gann levels and what they indicate. 📈 Key Gann Levels & Their Implications: 🔹 Immediate Resistance: 540° – $0.1972: A critical level that price is currently testing. A breakout above it may confirm bullish momentum. 510° – $0.2468: If price reclaims this level, we could see a trend reversal toward higher targets. 🔹 Major Resistance Levels: 480° – $0.3020: A strong historical resistance zone, breaking above this may trigger a larger rally. 450° – $0.3624: Psychological resistance; clearing this level could confirm a medium-term uptrend. 🔹 Immediate Support: 570° – $0.1532: A crucial demand zone where buyers previously stepped in. Holding above it could prevent further decline. 600° – $0.1147: A break below $0.1532 may bring this level into focus. 🔹 Final Support Zone: 630° – $0.0818: This would be a major breakdown level if bearish momentum accelerates. 🚀 Potential Market Scenarios: 🟢 Bullish Case: If price breaks and holds above $0.1972 (540° Gann level), it could trigger a move toward $0.2471 (510° level). A confirmed breakout above $0.3020 (480° level) may accelerate a bullish trend towards $0.3624 and beyond. This scenario would likely require increased buying volume and a broader market recovery. 🔴 Bearish Case: Failure to hold $0.1972 could push price back to $0.1532 (570° Gann level), where buyers may attempt to stabilize. A break below $0.1532 could lead to further downside towards $0.1147 (600° level). If selling pressure persists, $0.0818 (630° level) would be a worst-case scenario, marking a deep decline. ⚠️ Key Takeaways: 📍 Price is stuck in consolidation, testing a critical decision level ($0.1972). 📍 Bulls need to reclaim $0.2468+ to confirm an uptrend. 📍 Bears will dominate if price loses $0.1532, risking further decline. 💬 What’s your outlook? Do you expect a breakout or another leg down? Drop your thoughts below! 🔥 #Crypto #USDT #GannAnalysis #Trading #TechnicalAnalysis 🚀