GrowYourCrypto

Despite the recent flash crash in mid-January of this year, I believe that combined with the upward funnel that has formed, we could still see more downward pressure pushing the price as low as ~ $1,130. At this zone ($1,120-$1,160) we could expect some consolidation as the price bounces on a strong historical support structure. From there a fresh uptrend could be expected.

Based on the LTS line, we had a tumble in Aug 2023 and then broke out again mid-. There was a nice triangle forming and it proved true breaking with a local top at $2,692 on the 11th of this month, but following this, a nice little (not so nice actually) flag appeared leading to your current tumble. The next long-term support zones (not levels) are at $2,120-$2,150 (yellow) and if we can close above the LTS line (the dotted line) there is hope for recovery. Losing the yellow support zone we still have zones around $2,000 and $1,750 but I don't see it dropping to or below the major historical support zone at $1,360 (green)

XDC Update: The price is at a critical point right now with the RSI consolidating sideways below 50, and a strong medium-term uptrend acting as support. Key levels to look out for right now: Resistance zone - $0.1203 to $0.1267 Support zone - $0.0931 to $0.1004 (also at the 78.6 Fib ext) The price is currently trading towards the apex of an asymmetrical triangle that has been forming on a daily timeframe, whilst also trading within the resistance zone identified on the chart and mention earlier in this memo. Provided the price breaks out of this range, the next key level of resistance would be $0.1311 which is also situated perfectly on the 50 Fib ext. If the formation is invalidated and the price breaks to the downside, we would be looking for a bounce at the support zone identified. #DYOR #NFA #XinFinNetwork