Today’s move in $COLLECT has been quite aggressive. The price surged quickly from around 0.01962 up to 0.02414, and is currently holding near 0.0238. The most noticeable thing is the volume, which suddenly spiked along with the breakout—so there’s also participation in the move.
Now, the area around 0.0232–0.0230 will remain important in the short term. If the price manages to hold above this zone, then the 0.02414 high may be retested. But after such a fast candle, a pullback is also normal, so in my view, instead of chasing momentum here, the next consolidation will be more interesting.
Now, the area around 0.0232–0.0230 will remain important in the short term. If the price manages to hold above this zone, then the 0.02414 high may be retested. But after such a fast candle, a pullback is also normal, so in my view, instead of chasing momentum here, the next consolidation will be more interesting.