#HFTUSDT Potential Downside: Exploring Scenarios

💎 #HFTUSDT continues to face intense selling pressure as the price relentlessly breaches downtrend trendlines, one after another. This persistent bearish momentum raises the likelihood of a substantial price decline, potentially reaching around 10% or even more.

💎 Examining the potential downside move, we can envision two plausible scenarios. The first scenario entails a continuous downward spiral without any notable retracement. The second scenario suggests a temporary upward correction, serving as a testing ground for the supply zone and the critical 23.6% Fibonacci resistance level. Irrespective of the path taken, the anticipated destination for HFT is the significant $0.32 support area, reinforced by the confluence of two Fibonacci levels. However, a decisive break and close below this support area could signal a further descent into deeper price territory.

💎 As we explore the prospect of an uptrend scenario, it becomes evident that a new higher high must materialize to nullify the bearish outlook. Until such confirmation is achieved, the MCP team will diligently monitor the price action, keeping our loyal Paradisers informed about key developments and new opportunities that may arise.