The currency $CATI is approaching a previous peak. Are we witnessing a new surge?
The CATI USDT currency has risen by 14.12% over 24 hours to reach $0.1245 and seems to be on the verge of testing significant resistance at $0.1331. Will it break the peak and continue the price explosion?
Technical Analysis
Bollinger Bands: The price is breaking the upper limit of the range, indicating strong buying momentum, but some volatility or retracement may occur before continuing.
Moving Averages: The price is above MA5 and MA10, confirming the short-term upward trend.
RSI 6 at 68.4, close to overbought regions, which may cause a temporary profit-taking.
MACD shows a weak but steady positive bullish crossover, supporting continued upward movement if momentum persists.
Proposed Trading Strategy: Buy on the dip.
A suitable entry area if the price retraces to $0.1160 - $0.1180 and we see a strong reversal candle.
Stop loss below $0.1100.
Profit Targets:
First target: $0.1330, previous peak.
Second target: $0.1450.
Extended target: $0.1610 if momentum continues.
Do you think CATI will surpass its last peak?
