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The downward trend observed in the weekly charts has exited the falling wedge formation and entered the retest phase. This technical level break in MBOX is considered a strong bullish signal. 📈
The price movement aims for $0.36 in the short term, followed by trigger levels at $0.60, $1.95, and $4.00 in the medium and long term. These sequential resistance zones present a step-by-step roadmap during the software development process.
From a technical analysis perspective, breaking the falling wedge formation indicates a decrease in seller pressure and an increase in buyer interest. MBOX's exit from this consolidation phase is also reflected in momentum indicators.
In short-term operations, the $0.36 target remains a close watch point, while investors looking to hedge risks should consider the lower boundary of the formation as support. The $0.60 and $1.95 levels in the medium term could serve as important profit-taking points for longer positions.