Based on your data
1. Current situation:
• The resistance level at $7 has been broken, followed by a correction to $6.3. The price has now recovered and is again above $7.
• Indicators (based on your screenshots) show increased buyer activity, supporting the bullish sentiment.
2. Volumes:
• The chart shows that volumes are gradually increasing. This confirms interest in the asset at current levels.
3. RSI and MACD indicators:
• RSI (75): In the overbought zone, which may indicate a possible short-term correction or consolidation.
• MACD: The MACD lines are crossing in the positive zone, indicating a sustained upward momentum.
Forecast for the week:
• Main scenario:
After breaking the $7 resistance, a sideways movement between $6.8 and $7.3 is likely for volume accumulation.
• Bullish scenario:
If the $7 level holds as support, the next target will be $7.5–$7.8.
• Bearish scenario:
A downward break of the $6.8 level may lead to a decline to $6.3 (the last correction zone).
I recommend monitoring the volumes and the dynamics of the RSI to assess the strength of the movement. If the volumes continue to increase, new local highs can be expected.
