VOXEL Technical Analysis: Within Falling Wedge, A Reversal Pattern Sprouts

VOXEL price action shows a bullish reversal pattern near the descending support trendline. Will the reversal bring about a bullish breakout? Key technical points: The VOXEL prices have grown by 41% in the last 24 hours. The K and D lines diverge to regain bullish alignment. The 24-hour trading volume of Voxies is $58.25 Million, indicating a 38% hike. Past Performance of VOXEL VOXEL prices remain under immense selling pressure as the falling trend continues in a bearish wedge pattern with a solid resistance trendline. And under the influence of this highly bearish resistance trendline, the token’s market value crumbled by 78% last month. However, the recent free-fall finds support at the descending trendline with a morning star pattern, a bullish reversal pattern, inflating the market value by 41%. Source-Tradingview VOXEL Technical Analysis VOXEL price action experiences an increase in trading volume, reflecting an increase in the use of leverage and possibly bullish commitment if the trend sustains. However, the wick formation in the ongoing daily candle projects weakens the underlying bullishness and lowers the chances of a prolonged uptrend. The critical daily EMAs remain in a bearish direction and continue to fall lower, indicating the correction phase of the movement. The RSI slope displays a bullish reversal inside the oversold boundary, but it struggles to break out of it. Moreover, the 14-day SMA suppresses the RSI va...