The price action is currently within a global descending trend channel, showing clear consolidation inside the channel from the divergence zone. We are now witnessing a test of the global resistance level from the channel's divergence. I liked the buyer's reaction from the global support; if buyers continue to push the price, we could soon see a new ATH, which is quite exciting.
According to the global indicators, the uptrend should continue, but let's not forget about local pullbacks. The RSI is in a comfortable zone but near the resistance boundary, approaching overbought territory. The MACD is globally bullish, and volumes are increasing. Moving averages are providing global support for the price. I expect a local pullback, but overall, I'm anticipating a continuation of the upward trend.
Right now, I'm taking it easy and don't see the point in chasing every local movement in the market, so I'm spending more time on rest, which I recommend to you as well. When the market enters an active phase, we will trade actively together, my friends.
