I just analyzed AIA's 1-hour price chart for more than half an hour and found several market signals worth paying attention to. Currently, the AIA price is hovering around $1.30, which has become a battleground for bulls and bears, with both buyers and sellers contesting.
The market environment looks calm, but in fact, it hides uncertainties. Recently, the expectations for the Federal Reserve's interest rate hikes have been fluctuating, and large institutions are holding back, leading to a volatile crypto market. During such times, if any cryptocurrency can break through key resistance, it is likely to take the market along with it. If AIA can stabilize at its current position, it might become a leading indicator for the market.
From a technical perspective, the consolidation triangle is nearing its end, and a reversal is imminent. The white line and yellow line have formed a death cross, and the green bars have turned red with decreasing volume, indicating a lack of upward momentum. However, there is support near $1.30, with some buyers stepping in. The upper resistance is at 3.6600, while the lower support is at 2.7621, and the current price is in between. Pay particular attention to $2.1! If it breaks down with volume, it may fall to $2.78 for support; if it can break through $3.0, it will likely initiate a new upward trend.
Focus on the breakout, set a price alert, and if the price stabilizes above $3.0, you can enter with a small position. If it breaks below $2.1, consider reducing your position to avoid risk. Don't be swayed by short-term fluctuations; market volatility is often a tactic used by institutions to shake out positions.
How much position do you currently hold? Do you think AIA will break through resistance or continue to move within the consolidation range?
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