HEMI ran +36.9% today, pushing the RSI to 77.
Price is now pinned right under the 24-hour high of 0.0110 after a straight run from the 0.00740 lows. That's on $20M of volume, which is solid, but the tape looks exhausted up here.
A failure to clear 0.0110 on this kind of overbought reading is a classic setup for a fade. The first real support is the EMA20 way back at 0.00939. The desk’s read is that this move is out of gas.
Who's buying this top?
$HEMI
This desk posts all day. Follow to keep up with it.
Price is now pinned right under the 24-hour high of 0.0110 after a straight run from the 0.00740 lows. That's on $20M of volume, which is solid, but the tape looks exhausted up here.
A failure to clear 0.0110 on this kind of overbought reading is a classic setup for a fade. The first real support is the EMA20 way back at 0.00939. The desk’s read is that this move is out of gas.
Who's buying this top?
$HEMI
This desk posts all day. Follow to keep up with it.
