Tradoor/usdt is currently trading around $4.45, showing an impressive +30% intraday gain, after reaching a local high near $ 4.77. The market has experienced a strong bullish impulse, but recent price action suggests a possible short term cooling phase.
Price initially broke out with strong momentum supported by increasing volume. However, after talking the resistance zone around $4.7 - $ 4.8, sellers stepped in, leading to a rejection and minor pullback.
The EMA indicators (5,10,20) are still in bullish allignment, but price is not howering close to the fasters EMAs, signalling weakining bullish pressure. A break down below these levels could trigger a deeper retracment.
The RSI indicators remain above mid-level (50), indicating that bullish strength still exists, though momentum is gradually declining. Meanwhile, the MACD is showing early signs of bearish crossover, which could confirm a short term correction if sustained.
key levels to watch:
Resistance: $ 4.50 - $ 4.80
Support: $ 4.10 - $4.00
Major support: $3.80
Outlook:
As long as price holds above the $4.00 support zone, the bullish structure remains intact. A clean breakout above $4.80 could trigger continuation towards higher targets. Failure to hold support may lead to a retracment towards $3.80 before the next move.
