Key resistance levels to watch include $3.1429, which, if broken, could pave the way for further upward movement. Conversely, support at $2.7612 and $2.5158 remains critical to maintaining the broader bullish structure. Traders looking for long entries might consider waiting for a decisive break above $3.1429 with strong volume confirmation. On the downside, a dip near the $2.7612 support level could present an attractive short-term buying opportunity if bullish indicators align.
While the technical setup leans slightly bullish, mixed signals from the MACD and potential resistance at higher levels warrant caution. Short traders might find opportunities around $3.1429 if rejection occurs, with tight stop-loss placement to mitigate risk.
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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.