The market experienced a sharp crash, hitting a low of $35.19 before buyers stepped in, creating upward pressure. Failed sell orders at $35 suggest strong buyer interest, leading to a temporary rebound.
Current Scenario:
Support Level: $35.00
Resistance Levels: $50, $53, $63
Buyers are actively driving the price up, and the market is likely to see a short-term recovery within these levels.
Outlook:
The price is expected to rise for a few hours before potentially facing resistance at $53 or $63. Monitor closely for any reversal signals.
Advice: Short-term traders may capitalize on the rebound, but caution is advised due to high volatility.