$PHA sitting right under the rejection zone after that crazy pump
$PHA just ripped from the lows near 0.0438 all the way up to 0.1007 in a few candles. That move was clean and aggressive. Now price is sitting at 0.0795 after rejecting hard from the highs.
Look at this level đ
The top at 0.1007 got sold into pretty aggressively. Weâve had a series of red candles since then and price is consolidating lower. Structure was clearly making higher highs and higher lows on the way up, but that last push left a clear rejection wick and follow-through selling.
Volume exploded on the way up (you can see those big green volume bars), then cooled off as price pulled back. RSI(6) is sitting around 58 right now â not overbought anymore, but also not showing strong momentum either way yet.
Hereâs what Iâm watching:
If bulls want to take control again, they need to reclaim the area above the recent red candles and start pushing back toward 0.0900â0.1007. A clean break and hold above the local highs would open the door for another run at the top.
On the downside, if sellers keep pressing, the next area of interest is the zone around 0.0755 (the 24h low) and the previous consolidation base lower. Losing that opens the door for a deeper pullback toward the mid-range of the entire move.
This is the part Iâm watching closely.
Price is right in the middle of the recent range after a big impulse. How it reacts here over the next few 4h candles will tell us a lot.
Watch how price reacts at the current level and whether buyers step in or sellers keep the pressure on. A strong reclaim higher or a clean break lower will be the signal.
Guys follow for more chart analysis đ Iâll keep showing you exactly what the chart is telling us. đđ„
$PHA just ripped from the lows near 0.0438 all the way up to 0.1007 in a few candles. That move was clean and aggressive. Now price is sitting at 0.0795 after rejecting hard from the highs.
Look at this level đ
The top at 0.1007 got sold into pretty aggressively. Weâve had a series of red candles since then and price is consolidating lower. Structure was clearly making higher highs and higher lows on the way up, but that last push left a clear rejection wick and follow-through selling.
Volume exploded on the way up (you can see those big green volume bars), then cooled off as price pulled back. RSI(6) is sitting around 58 right now â not overbought anymore, but also not showing strong momentum either way yet.
Hereâs what Iâm watching:
If bulls want to take control again, they need to reclaim the area above the recent red candles and start pushing back toward 0.0900â0.1007. A clean break and hold above the local highs would open the door for another run at the top.
On the downside, if sellers keep pressing, the next area of interest is the zone around 0.0755 (the 24h low) and the previous consolidation base lower. Losing that opens the door for a deeper pullback toward the mid-range of the entire move.
This is the part Iâm watching closely.
Price is right in the middle of the recent range after a big impulse. How it reacts here over the next few 4h candles will tell us a lot.
Watch how price reacts at the current level and whether buyers step in or sellers keep the pressure on. A strong reclaim higher or a clean break lower will be the signal.
Guys follow for more chart analysis đ Iâll keep showing you exactly what the chart is telling us. đđ„
