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Current Price Action

Price: $12.24 (at analysis time), showing a strong +11.48% move.

The recent candle structure shows bullish momentum, with a clean breakout above prior consolidation.

Volume spike supports the bullish move — a sign of strong interest and potential continuation.

Key Technical Indicators & Patterns

Bullish Engulfing Pattern: A strong bullish reversal sign, confirmed by the breakout.

SMA50 Support: The chart shows the price is currently trading well above the 50-period simple moving average, confirming short-term bullish trend.

Breakout Zone: Price broke above the horizontal resistance near $12.00–$12.10, now acting as support.

Resistance Zones

The upper green trendline indicates a descending resistance, currently intersecting around $12.50. This could pose a challenge unless there’s strong momentum or news support.

Support Zones

Nearest support is around $12.00, the former resistance.

Additional support lies near the $11.00 psychological level, marked by a previous consolidation range.