PROM/USDT
PROM/USDT is showing very strong bullish momentum on the 4-hour timeframe. Price is around 3,845 after printing a 24-hour high at 4,055, accompanied by an increase of about 44.88%. The price structure is still above MA7, MA25, MA99, as well as the Supertrend, indicating that the short- to medium-term trend remains positive. Volume has also increased significantly, strengthening the validity of the upward move.
However, there is one thing to pay attention to: the RSI is around 86.5, indicating a very overbought condition. Price has also moved above the upper Bollinger Band, so the risk of a pullback or consolidation is becoming greater. MACD is still bullish, with DIF above DEA, so the momentum has not shown a clear reversal.
If it can hold above the 3.75–3.80 area, PROM has the potential to test 4.05 again and then the 4.20 area. Conversely, losing 3.75 could open the way for a correction toward 3.40–3.50. This is not a buy recommendation, but material for consideration.
$PROM
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
PROM/USDT is showing very strong bullish momentum on the 4-hour timeframe. Price is around 3,845 after printing a 24-hour high at 4,055, accompanied by an increase of about 44.88%. The price structure is still above MA7, MA25, MA99, as well as the Supertrend, indicating that the short- to medium-term trend remains positive. Volume has also increased significantly, strengthening the validity of the upward move.
However, there is one thing to pay attention to: the RSI is around 86.5, indicating a very overbought condition. Price has also moved above the upper Bollinger Band, so the risk of a pullback or consolidation is becoming greater. MACD is still bullish, with DIF above DEA, so the momentum has not shown a clear reversal.
If it can hold above the 3.75–3.80 area, PROM has the potential to test 4.05 again and then the 4.20 area. Conversely, losing 3.75 could open the way for a correction toward 3.40–3.50. This is not a buy recommendation, but material for consideration.
$PROM
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
