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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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- 📢 ETH Heading for $4800? Have Your Say! Show Off on Gate Square & Win 0.1 ETH!
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- 🧠 #GateGiveaway# - Crypto Math Challenge！
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XCH/USDT 4-Hour Timeframe – Potential Market Movement
📈 (Not a Signal) 📉
‼️ Trade at Your Own Risk ‼️
XCH is currently forming a potential **Rising Wedge pattern on the 4-hour timeframe. This pattern is typically considered a bearish indicator, as it often suggests a potential trend reversal following an upward price movement. A rising wedge consists of higher highs and higher lows, but the narrowing structure indicates weakening momentum.
If the price breaks below the lower trendline of the wedge, it could signal a bearish breakout, leading to a potential decline in price. Traders should carefully monitor volume and key support levels for confirmation. See the chart below for detailed technical analysis.