$ETHFI breaks above its 24-hour high: current price 0.6507, previous high 0.6415.
After the breakout, two key things to watch:
· Whether the previous high of 0.6415 turns from resistance into support (holds on a pullback)
· Whether the breakout is backed by volume; a breakout on declining volume can easily turn into a bull trap
Share your take in the comments, and we’ll check back in a few days to see who was right.
This is for discussion purposes only. Trade at your own risk.
After the breakout, two key things to watch:
· Whether the previous high of 0.6415 turns from resistance into support (holds on a pullback)
· Whether the breakout is backed by volume; a breakout on declining volume can easily turn into a bull trap
Share your take in the comments, and we’ll check back in a few days to see who was right.
This is for discussion purposes only. Trade at your own risk.