$ELSA After reaching a six-month high, there are roughly three possible paths from here:
① Pull back to 0.09401 and hold, with the previous high turning into support; ② Consolidate at a high level as volume gradually tapers off; ③ Fall back below 0.09401, turning this into a false breakout.
The current price is 0.09932, still above the previous high, and it’s too early to tell which scenario will play out. Trading volume this time was 9.7 times the 20-day average, so whether volume holds up from here will be crucial.
What do you see as the key level?
① Pull back to 0.09401 and hold, with the previous high turning into support; ② Consolidate at a high level as volume gradually tapers off; ③ Fall back below 0.09401, turning this into a false breakout.
The current price is 0.09932, still above the previous high, and it’s too early to tell which scenario will play out. Trading volume this time was 9.7 times the 20-day average, so whether volume holds up from here will be crucial.
What do you see as the key level?