At the inflection point of $2.29, the long-term trend broke out, suggesting the price could run up to $3.00 and potentially $3.40 with continued positive sentiment. A news catalyst could trigger a rapid spike towards $4.00.
At $2.70, #FOMO traders entered. Following a short period of consolidation and breakout, the price reached a high of $2.90.
The price action remains bullish and is currently in a zone of interest that could attract previous investors and traders. A news catalyst is key to bringing in the necessary liquidity and volume. If buyers can hold the price within this zone, we may see a continuation of the pattern.
A retest of $2.90 followed by a slight pullback to $2.70 is possible before the uptrend resumes.
At $2.70, #FOMO traders entered. Following a short period of consolidation and breakout, the price reached a high of $2.90.
The price action remains bullish and is currently in a zone of interest that could attract previous investors and traders. A news catalyst is key to bringing in the necessary liquidity and volume. If buyers can hold the price within this zone, we may see a continuation of the pattern.
A retest of $2.90 followed by a slight pullback to $2.70 is possible before the uptrend resumes.
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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.
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.