Technical Analysis and Outlook:
In the trading session for this week, we observed significant volatility characterized by considerable fluctuations, ultimately culminating in the completion of the coin Interim Coin Rally 94500. The coin experienced a substantial increase, reaching our Mean Resistance level of 92600, before encountering a steep pullback that resulted in its stabilization at the starting point of Mean Support of 84700.
This upward fluctuation indicates a potential for higher prices and suggests a likelihood of retesting the target Mean Resistance levels at 90600, coinciding with the conclusion of Interim Coin Rally 94500. Nonetheless, a retest of the Key Support level at 79000 and the completed of the Outer Coin Dip 78700 may occur prior to any further upward momentum.
In the trading session for this week, we observed significant volatility characterized by considerable fluctuations, ultimately culminating in the completion of the coin Interim Coin Rally 94500. The coin experienced a substantial increase, reaching our Mean Resistance level of 92600, before encountering a steep pullback that resulted in its stabilization at the starting point of Mean Support of 84700.
This upward fluctuation indicates a potential for higher prices and suggests a likelihood of retesting the target Mean Resistance levels at 90600, coinciding with the conclusion of Interim Coin Rally 94500. Nonetheless, a retest of the Key Support level at 79000 and the completed of the Outer Coin Dip 78700 may occur prior to any further upward momentum.
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Related publications
Disclaimer
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.