Gitcoin printed a +74.6% day, running from 0.157 to a high of 0.393.
That move came on $20M of volume and pushed the daily RSI to 75. Price is holding well above the short-term moving averages, but the clean rejection at the highs is the whole story right now. The vertical ascent is over.
This isn't necessarily a top, but it is a pause. The tape has to prove it can absorb the sellers that showed up at 0.393. That's the line that separates a healthy cool-off from a reversal.
Did the move die at 0.393, or is this the pullback bulls have been waiting for?
$GTC
More of these coming today. Follow to catch them as they land.
That move came on $20M of volume and pushed the daily RSI to 75. Price is holding well above the short-term moving averages, but the clean rejection at the highs is the whole story right now. The vertical ascent is over.
This isn't necessarily a top, but it is a pause. The tape has to prove it can absorb the sellers that showed up at 0.393. That's the line that separates a healthy cool-off from a reversal.
Did the move die at 0.393, or is this the pullback bulls have been waiting for?
$GTC
More of these coming today. Follow to catch them as they land.