#LEVERUSDT 4H quick update.
After a 3-day consolidation stint, we saw last night how $LEVER was unable to hold the $0.001411 support and plunged creating a new local low at $0.001299.
Zooming out, I see a potential bearish shark formation, given the odds that current market can hold above its new low.
Crucial here for the bounce would be for market to trade above its yellow midline valued currently at $0.001361. If it sustains for a formidable amount of time, bulls may be convinced that buyers still have hope for this to reach back somewhere $0.0019+ area.
Price also made the bounced from the 50% key support level from the plotted Fib fan.
Per analysis, market needs to break its pivot at $0.001585 to somehow regain upward momentum.
On the contrary, if $LEVER breaks its $0.001299 pivot, more downside is to be expected, invalidating the bearish ABCD pattern in the process.
When the lower OB gets mitigated, we could very well see the 24% Fib level area as the next destination.