The asset experienced a sharp breakout starting around October 25th, moving from the $0.85 – $0.95 range to a recent high near $1.62.
The price action confirms a strong, impulsive uptrend, characterized by higher highs and higher lows following the breakout.After hitting a local peak at $1.6213, the price underwent a small retracement and is currently consolidating above a critical immediate support level (around $1.3913).
Key support levels include $1.3913 (immediate support) and $1.1706 (major support). Immediate resistance is at $1.6213, with the next target at $1.8444. Holding above $1.3913 is crucial for maintaining bullish momentum.
Bullish Scenario: Holding $1.3913 and breaking $1.6213 targets $1.8444.
Bearish Scenario: Falling below $1.3913 suggests a retreat towards $1.1706.
The price action confirms a strong, impulsive uptrend, characterized by higher highs and higher lows following the breakout.After hitting a local peak at $1.6213, the price underwent a small retracement and is currently consolidating above a critical immediate support level (around $1.3913).
Key support levels include $1.3913 (immediate support) and $1.1706 (major support). Immediate resistance is at $1.6213, with the next target at $1.8444. Holding above $1.3913 is crucial for maintaining bullish momentum.
Bullish Scenario: Holding $1.3913 and breaking $1.6213 targets $1.8444.
Bearish Scenario: Falling below $1.3913 suggests a retreat towards $1.1706.
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免责声明
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.