Technical analysis by Zorroreny about Symbol UFT on 4/16/2025

Recent set of delistings (Binance as biggest) completly crushed the UFT price. Now we can see descending triangle pattern where price broke to the downside. Technical target for this pattern is 1:1 move meassured from top to bottom of triangle. So price can dip a bit more but we are already creating oversold conditions which I believe will resolve in bounce up to test breakout range and then likely test of bottom again.We can start thinking about bull scenario only once/if price wicks wave X pivot and corrects back to form higher low (ideally holds above triangle pattern).