PERP/USDT Lying on the support, Bounce or break down ??

💎 PERP has recently been in the spotlight in the market. Currently positioned at a critical support level, which previously served as resistance, there is potential for PERP to rebound from this point, with probability aiming for an upward trajectory toward the bearish OB target area.

💎 However, if PERP is unable to maintain its position above this support level and breaks below it, it would be a concerning indicator. Such a scenario would likely initiate a downward trend, with PERP's next critical stop being the demand area around $0.75. This area also coincides with a bullish support zone for PERP.

💎 The demand zone is pivotal for PERP's recovery trajectory. A successful bounce and reclaiming of prices above the support level from this zone are essential for reversing the bearish trend. If PERP fails to achieve this and breaks below the demand zone, it will likely confirm a bearish trend, suggesting a possible continuation of the downward movement, potentially even falling below the current demand area.