$Q IS AT A DANGEROUS DECISION ZONE .. DON’T CHASE THE PUMP
Q has already rallied almost 78% in 48 hours, but the structure is starting to look tired. Price tested the 0.0524 resistance twice and failed both times, while volume on the second push was much weaker.
The lower area around 0.0455–0.0458 has also been tested several times, showing that support is getting pressured.
Open interest slipping while price stalls near the highs is another warning that fresh buyers are not aggressively stepping in.
At 0.0514, upside back to the recent high is only around 2%, while downside toward the 0.0455 support zone is roughly 11%.
For me, this is not a good place to chase longs. Either Q breaks 0.0525 with strong volume, or I expect a deeper correction first.
$Q
Q has already rallied almost 78% in 48 hours, but the structure is starting to look tired. Price tested the 0.0524 resistance twice and failed both times, while volume on the second push was much weaker.
The lower area around 0.0455–0.0458 has also been tested several times, showing that support is getting pressured.
Open interest slipping while price stalls near the highs is another warning that fresh buyers are not aggressively stepping in.
At 0.0514, upside back to the recent high is only around 2%, while downside toward the 0.0455 support zone is roughly 11%.
For me, this is not a good place to chase longs. Either Q breaks 0.0525 with strong volume, or I expect a deeper correction first.
$Q