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Sudden rise of currency $LISTA what is the reason and what is the recommendation?!
Displayed data:
Current price: 10.82 Turkish Lira.
Percentage increase over 24 hours: +41.07% (in dollars: $0.2779).
Highest price in 24 hours: 12.72 Lira.
Lowest price in 24 hours: 7.62 Lira.
MA60 moving average: approximately 10.52, while the current price is above it, indicating an upward trend.
Trading volume: 29.96 million LISTA and 333.38 million Lira.
Candlestick charts: show a sharp upward surge with high trading volumes.
Technical indicators:
VOL (trading volume): there is a clear jump in trading volumes, reflecting significant buying interest.
Price trend: there is a rapid increase in price, which may indicate an imminent correction or profit-taking.
Short moving averages (MA5 and MA10): are moving above MA60, supporting the upward trend.
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Current recommendation:
If you own the currency:
Best strategy: partial profit-taking.
Because the price has risen by more than 40% within 24 hours, a price correction is likely to occur soon.
You can sell a portion (e.g., 50%) and keep the rest in anticipation of continued upward movement.
If you are considering buying:
Best strategy: wait and do not buy now.
Because the price is at a short-term peak after a sharp upward wave.
It is better to wait for a correction towards a closer support area (e.g., 10.5 or lower) before making a buying decision.
