XEN Descending Wedge – Critical Move Loading

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As previously identified, XEN continues to develop within a well-defined descending broadening wedge. The current price action is testing a key support zone, and its ability to hold here is crucial to avoid a deeper move toward the projected bearish target at the wedge’s lower boundary.

Our tactical plan is a quick long from current levels, with stop loss positioned just below the recent swing low. The target is set near the major supply zone, which represents the most significant sell-off resistance on the chart.

A rejection at that zone could trigger a sharp return to the critical support area. Watching closely—let’s see how price unfolds.

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Other exchange view on XEN

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Critical support zone holding firm, we should expect the coin to move up to test out the supply area as shown on the chart.