Current trend assessment: Short-term still leans bullish, but approaching resistance level, need to be cautious about chasing highs.
Why it’s still in an upward trend:
News and sentiment: Soaring nearly 19% within 24 hours, with trading volume also expanding to over $45 million, indicating funds are entering the market, and market sentiment is relatively hot.
Technical support:
You mentioned "green bars rising," which usually refers to trading volume or momentum indicators showing increased buying power.
"Yellow and white lines rising steadily below the zero axis" — if this refers to MACD, although it’s below the zero axis, it’s moving upwards, indicating that the downward momentum is weakening and rebound power is accumulating.
The price is currently above the key level of 0.1490; if it can stabilize, there is potential to test the resistance level of 0.1545 upwards.
However, be aware of several risk signals:
Resistance level nearby: 0.1545 is a strong resistance in recent times; if it can't break through, a pullback may occur.
Overbought phenomenon: You mentioned "overbought greater than oversold," indicating that the short-term rise is too rapid, and some indicators may already be overheated, making it easy for profit-taking.
Support level at 0.1389: If it drops back here, it indicates that the upward momentum may pause temporarily.
Simple summary:
Short-term: There is still upward space, especially if it can break through 0.1545, it may continue upwards.
Medium-term: It depends on whether it can stay above 0.1490; if it drops below 0.1389, be cautious of a pullback.
Operation: If you already hold, you can observe the performance near 0.1545; if you want to chase the rise, it’s best to wait for a pullback to near the support level before considering, to avoid chasing at high points.
There are no gods in the coin circle, only teachers with a good mindset. If you don’t know what an effective breakthrough is or what coins can yield 10 times, pay attention to the I Ching and come to the village to get it! #加密市场反弹
