A $ARIA 30-day high; current price: 0.04827, previous high: 0.0465.
After a new high, there are generally three possible moves:
① Pull back to retest the previous high, hold, then climb another step: the healthiest scenario
② Churn around near the previous high: consolidation while waiting for direction
③ Drop quickly below the previous high and fail to reclaim it: a bull trap
Price is still above the previous high for now. Let's see whether scenario ① or ② plays out.
After a new high, there are generally three possible moves:
① Pull back to retest the previous high, hold, then climb another step: the healthiest scenario
② Churn around near the previous high: consolidation while waiting for direction
③ Drop quickly below the previous high and fail to reclaim it: a bull trap
Price is still above the previous high for now. Let's see whether scenario ① or ② plays out.