Technical analysis by weslad about Symbol FIL on 7/4/2025

FILUSDT broke down from a bearish formation and has since been trading within a descending channel, carving out what appears to be a 3-wave corrective structure (ABC) to complete wave W of a broader corrective pattern.Price is now approaching a critical zone where wave X is expected to develop. If price manages to break above the projected sell-off zone, bullish momentum could reclaim control, opening the path toward the next major target at $18.308.However, a rejection at this key resistance would likely trigger another downward leg, pushing the price back into the immediate demand zone. A failure to hold this support would significantly increase the risk of a deeper breakdown toward the projected wave Y target around $0.995, completing the extensive correction structure.This is a pivotal moment for FILUSDT, We should closely monitor price action around the sell-off zone for clues on whether bulls can reclaim dominance or if the correction will deepen further.