1. Short-Term Trend: Bullish Reversal
Current price: 665.18 USDT, up +1.09%.
There is a sharp price surge from around 590 to 665, indicating strong buying pressure (bullish momentum).
The last long green candlestick shows significant buying interest and the possibility of a short squeeze or breakout from local resistance.
2. Support and Resistance Levels:
Strong support around 590 - 600 USDT (previous consolidation area).
Immediate resistance around 668 - 670 USDT (according to the 24-hour high).
Next strong resistance at 732 USDT (previous price peak on the chart).
3. Moving Average
MA(5) and MA(10) have not yet shown crossing on the chart, but as the price sharply breaks upward, it can be assumed that the short-term MA will soon cross upward, confirming bullish signals if it continues.
4. Volume:
Volume during the breakout is quite high (seen from the volume histogram below), supporting the strength of the breakout.
High volume indicates strong market participation, validating the price direction.
**Conclusion:**
Short-term signal: Bullish.
If the price can hold above 660-665 USDT, it is likely to test resistance at 668 - 670. If another breakout occurs, the next target is 700+ USDT.
However, beware of false breakouts and potential corrections if there is no continued volume.
stay #dyor and #disclaimer guys...
