๐ก Quick technical analysis:
โ Strong upward movement of +20% in just 24 hours! The price jumped from 0.05794 to touch 0.07464 and then stabilized around 0.07054 โ indicating clear buying momentum.
โ RSI at 68.9 โ very close to the overbought zone, but has not reached it yet, indicating an opportunity for further increase before any correction.
โ Positive MACD โ the blue line crosses upward with the red line, indicating strong momentum that may push the price to a new upward wave.
โ High trading volumes โ strong trades above average confirm actual interest from buyers.
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๐ Expected scenario:
If STPT manages to break the current resistance at 0.07464, we might see a surge towards 0.080 - 0.085 in the short term.
In case of a correction, the nearest support will be at 0.0669 โ an excellent buying opportunity during the pullback.
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๐ Technical pattern analysis โ Are we witnessing a 'Vertical Rally' pattern?
Price behavior indicates the formation of a vertical rally pattern with short periods of consolidation โ a pattern often seen before new breakouts.
Also, the moving averages MA(5) and MA(10) are trending upward, supporting the continuation of the bullish trend.
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๐จ Supporting signals from indicators:
RSI is high, but has not yet entered the overbought area: there is still room for upward movement.
Positive MACD and recently crossed: momentum is ongoing.
Trading volume is above average: the market is reacting strongly.
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๐ฏ Expectations for the next movement:
Next resistance: 0.07464 โ if broken, the next target will be at 0.080+
Nearest support: 0.06692 โ a good entry area if a bounce occurs.
If it holds above 0.070, the price is ready to continue the surge.
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๐ฌ My personal opinion:
STPT reflects a strong buying wave at the moment. Technical indicators and momentum reflect the price's readiness to test new resistance โ but it is advisable to be aware of any short-term corrections.
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โ Final advice:
Set a stop loss below 0.066 for more security.
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๐ข Do you think STPT will break 0.080 soon? Or will we see a pullback before the launch? Share your predictions with me!
