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Chart Analysis โ
๐ Key Observations:
1. Symmetrical Triangle Breakout:
A symmetrical triangle pattern (blue lines) has formed and just broke out slightly upward.
This typically indicates potential volatility and a directional move.
2. Support and Resistance Levels:
Immediate resistance: $0.028926 (currently testing this).
Major resistances: $0.038820 and $0.039771 (green zones).
Strong support: $0.018541 (red horizontal line).
3. Price Status:
Currently trading at $0.028786, up +9.08%, suggesting bullish momentum.
4. RSI Indicator (Relative Strength Index):
RSI is at 59.08, just below the overbought zone (70), indicating moderate bullish momentum without being overextended.
5. Volume and Sentiment:
There is a lightning bolt icon (โก) under the chart, typically suggesting a signal or news catalyst โ potentially bullish.
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โ Bullish Signs:
Breakout from triangle.
RSI trending up.
Price above ascending trendline support.
โ ๏ธ What to Watch:
Needs to break and hold above $0.028926 for further upside.
Rejection could lead to a retest of lower support zones.