The daily chart shows long upper and lower shadows, reflecting strong selling pressure and buying force in the market.
Technical Indicator Analysis:
MACD: The fast and slow lines in the hourly timeframe are intertwined near the zero axis, indicating an unclear short-term trend; the daily level is still in the bullish zone but shows signs of correction.
RSI: The hourly period values fluctuate around 50, indicating neutral market sentiment;
The daily level is slightly above 50, maintaining some upward momentum.
EMA: The hourly EMA7 and EMA30 are close to merging, indicating a fuzzy short-term direction;
EMA120 is far below the current price, indicating an upward long-term trend. The daily EMA is in a bullish arrangement, supporting the overall upward movement.
Market Signals: The 1-hour, 2-hour, and 4-hour periods are all in a bullish arrangement, with slight adjustments at high levels; after a pullback, the outlook remains bullish.
Key Levels:
Support Levels: 92500, 91800
Resistance Levels: 94000, 96000
