$CFG bulls are sitting on a critical daily demand zone that could dictate the next major trend.
The price has dropped right back into this major support block between 0.0977 and 0.1063.
We’ve already seen this zone prove its strength. Previously, the price printed two aggressive bullish candles with high volume after tapping here, but sellers managed to drag it back down.
Now, we are testing the floor again. This time, the RSI has bounced directly from oversold territory, signaling that the selling pressure is completely exhausted.
The setup is almost ready to fire. All we need is one more strong daily candle close above this zone to confirm the reversal.
If buyers deliver that close, expect a major move toward the 0.18 level and beyond.
Lose the 0.0977 support, though, and the setup is invalidated, opening the door for a deeper drop.
Bulls have the ammunition with the RSI reset, but they must prove it by reclaiming the zone.
#CFGUSDT
The price has dropped right back into this major support block between 0.0977 and 0.1063.
We’ve already seen this zone prove its strength. Previously, the price printed two aggressive bullish candles with high volume after tapping here, but sellers managed to drag it back down.
Now, we are testing the floor again. This time, the RSI has bounced directly from oversold territory, signaling that the selling pressure is completely exhausted.
The setup is almost ready to fire. All we need is one more strong daily candle close above this zone to confirm the reversal.
If buyers deliver that close, expect a major move toward the 0.18 level and beyond.
Lose the 0.0977 support, though, and the setup is invalidated, opening the door for a deeper drop.
Bulls have the ammunition with the RSI reset, but they must prove it by reclaiming the zone.
#CFGUSDT
