๐ $PROVE hints at a strong bullish reversal! ๐ฅ
The pair now shows a double bottom pattern after testing the low in February and retesting it, coinciding with the price moving within a descending wedge pattern โ which is typically a classic signal of the nearing end of selling pressure.
๐ What does the chart tell us?
- The second bottom is smaller than the first with a decrease in trading volume
- This indicates that the downward momentum is gradually losing strength
- The market is approaching a potential trend reversal phase
๐ก Expected scenario:
- As long as the price maintains the current support area of 0.258, we may see a rapid bullish surge with a breakout of the wedge pattern
โ ๏ธ Important point:
Even if support is tested again, lower price areas often become accumulation zones before a breakout.
๐ Summary:
The technical structure suggests that the market may be in the final phase of correction before a stronger upward move.
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