GRIFFAINUSDT.P On the Daily timeframe, after an extended bearish trend, the price broke out of a falling wedge pattern and surged by 189.92%.
Currently, the price is consolidating just below the daily resistance level (marked by the red dotted line).
The price needs to break above the daily resistance with strong volume for the upward momentum to continue.
Otherwise, a pullback towards the blue support zone is likely.
If the price successfully retests the blue zone and holds, it may attempt to retest the resistance level again.
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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.