【$US Short-Term Rally Review】
1) Up 5.32% in 1 hour, current price 0.03186, up 98.45% over 24h.
2) The 24h high of 0.0364 is the nearest resistance. Don’t get too aggressive before it breaks through.
3) 24h trading volume is $609 million. A rally accompanied by sustained increases in volume is more convincing; be wary of a pullback if the price spikes on low volume.
Conclusion: The trend is upward, but don’t chase a long bullish candle. Waiting for a pullback and confirmation is safer.
Anyone knowledgeable care to weigh in?
#US
DYOR; participate responsibly.
1) Up 5.32% in 1 hour, current price 0.03186, up 98.45% over 24h.
2) The 24h high of 0.0364 is the nearest resistance. Don’t get too aggressive before it breaks through.
3) 24h trading volume is $609 million. A rally accompanied by sustained increases in volume is more convincing; be wary of a pullback if the price spikes on low volume.
Conclusion: The trend is upward, but don’t chase a long bullish candle. Waiting for a pullback and confirmation is safer.
Anyone knowledgeable care to weigh in?
#US
DYOR; participate responsibly.