DATA/USDT on the weekly chart shows an interesting setup. The token is currently testing a descending trendline that's been in place for some time. There's been an attempt to break out early from the prolonged bearish structure, but here's the catch—the confirmation just isn't there yet on a weekly close basis. Until we see that weekly candle close decisively above the trendline, any upside move should be treated with caution.
The Key Levels analysis shows multiple confluence points that traders need to watch. The trendline itself acts as initial resistance, but there are additional levels that matter for both confirmation and potential extended targets. The unconfirmed nature of this breakout attempt is crucial—one failed test could quickly reverse momentum back into the bearish bias.
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GasFeeTherapist
· 01-06 05:19
It's that old saying of "waiting for weekly close confirmation" again. I feel like I'm always waiting...
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Token_Sherpa
· 01-03 15:56
ngl, the "unconfirmed breakout" trap is basically the oldest playbook in the book... seen too many retail positions get liquidated waiting for that weekly close that never comes
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GasFeeCry
· 01-03 15:51
This weekly breakdown looks serious, but the weekly close hasn't confirmed it yet... This is just setting a trap for the bulls.
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0xSunnyDay
· 01-03 15:47
Another false breakout, the weekly chart hasn't closed yet, this breakdown is pointless.
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MetaNomad
· 01-03 15:34
The weekly chart only counts if there's a real break below; otherwise, this rally is just a trap.
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CommunitySlacker
· 01-03 15:33
Another false breakout, I've seen this trick too many times.
DATA/USDT on the weekly chart shows an interesting setup. The token is currently testing a descending trendline that's been in place for some time. There's been an attempt to break out early from the prolonged bearish structure, but here's the catch—the confirmation just isn't there yet on a weekly close basis. Until we see that weekly candle close decisively above the trendline, any upside move should be treated with caution.
The Key Levels analysis shows multiple confluence points that traders need to watch. The trendline itself acts as initial resistance, but there are additional levels that matter for both confirmation and potential extended targets. The unconfirmed nature of this breakout attempt is crucial—one failed test could quickly reverse momentum back into the bearish bias.