$PHA After the afternoon two waves of increased volume, the price regained the morning high. For the short-term, the more worth tracking is the continuation after a pullback—not chasing just because you see a rally.
On Binance spot’s 1-hour chart, from 09 to 11 the candles kept closing lower continuously, and by 12 it stopped falling; then from 13 to 14 the candles closed higher one after another, ending at $0.0534 and $0.0568 respectively—both above the 08:00 high of $0.0522. At 14:00, the trading volume was also about 35% higher than at 13:00. This shift upward is supported by continuous volume, but volume is not the same as net inflow of funds.
Next, watch whether 0.0522 can turn from the former high into a support/holding area. After it holds, then see whether the 1-hour close can break above the afternoon high at 0.0584—only then can we continue discussing an upward extension. If the 1-hour close falls back below 0.0522, the breakout-continuation thesis is invalid. After a two-hour surge, the amplitude has expanded; don’t treat the spike at the highs as “standing firm.”
Open the PHA spot 1-hour chart and focus on these two conditions. This is for market observation only and does not indicate that positions have been opened.
Source: Binance spot and publicly available candlesticks, Sept 25 at 15:04 (UTC+8), last candle not yet closed.
https://www.binance.com/en/trade/PHA_USDT?type=spot
On Binance spot’s 1-hour chart, from 09 to 11 the candles kept closing lower continuously, and by 12 it stopped falling; then from 13 to 14 the candles closed higher one after another, ending at $0.0534 and $0.0568 respectively—both above the 08:00 high of $0.0522. At 14:00, the trading volume was also about 35% higher than at 13:00. This shift upward is supported by continuous volume, but volume is not the same as net inflow of funds.
Next, watch whether 0.0522 can turn from the former high into a support/holding area. After it holds, then see whether the 1-hour close can break above the afternoon high at 0.0584—only then can we continue discussing an upward extension. If the 1-hour close falls back below 0.0522, the breakout-continuation thesis is invalid. After a two-hour surge, the amplitude has expanded; don’t treat the spike at the highs as “standing firm.”
Open the PHA spot 1-hour chart and focus on these two conditions. This is for market observation only and does not indicate that positions have been opened.
Source: Binance spot and publicly available candlesticks, Sept 25 at 15:04 (UTC+8), last candle not yet closed.
https://www.binance.com/en/trade/PHA_USDT?type=spot
