The market created a double top at 3.40$ and after that, the price got a bearish impulse. During these days the bad news not help this token, A big Developer left the team.

On the daily timeframe , the price is creating a descending channel and lost the key level on 1.3$.

On the 4h timeframe the price is creating a minor descending channel and now the price is testing the previous resistance as new support on 0.5 Fibonacci level.

How to approach?
the price needs to have a breakout from the descending channel with volume and confirm the breakout above the daily resistance and 4h timeframe on 1.37$.

IF the price is going to satisfy our rules, According to Plancton’s strategy, we can set a nice order
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Keep in mind.

• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.

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Follow the Shrimp 🦐