$RHEA
Let's start analyzing from the structure. After the initial rise and healthy pullback, $RHEA seems to be forming a cup and handle pattern — a classic bullish continuation pattern. If the volume confirms, this pattern usually signals a breakout trend.
The Relative Strength Index (RSI) is currently near the neutral 50 level after previous overbought readings, indicating the market has calmed down and may be ready to rise again. Meanwhile, the MACD shows signs of a bullish crossover, which is a momentum signal closely watched by traders.
The volume trend is also encouraging. While volume typically declines during consolidation, $RHEA's volume has remained steady — a positive sign for potential future volatility. If volume exceeds the 4-hour average at the breakout, it may confirm the bullish trend, developing towards the short-term resistance area.
Currently, support is located at the key moving averages on lower time frames; as long as the price stays above these support levels, the short-term outlook remains optimistic. If it breaks recent highs, it could bring 15% to 20% of upside before hitting major resistance.
Of course, nothing is certain. But from a technical perspective, RHEA's current consolidation looks more like a pause than a reversal. Momentum traders should closely monitor the upcoming surge in volume and breakout confirmation.
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