Pancake Trend Analysis
A doji star has appeared, indicating a heated battle between bulls and bears.
On April 23, the pancake closed at 9.5 forming a doji star, showing intense confrontation between the two sides.
From a technical indicator analysis:
The 20-day moving average (8.6487) has turned upward, indicating a positive short-term trend;
RSI is approaching the overbought zone, indicating strong buying power.
Market Outlook:
If the bulls hold their ground, 9.5 is likely to break through, targeting 10, and possibly reaching 10.7.
However, caution is needed; if it loses 9.5 and breaks the support of the moving average, a short-term correction may occur.
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