$CGPT
Volume spikes align with price movements, particularly during the March drop and the recent recovery. However, the latest volume bars are not as high, suggesting the current price increase might lack strong conviction.
Market Sentiment:
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The 6.79% increase in 24 hours shows short-term bullish sentiment. However, the weekly timeframe indicates a longer consolidation phase after a sharp drop, so the market might still be cautious.
Insight for the Next 2 Days:
Bullish Case: If the price holds above $0.1322 and breaks $0.1354 with increased volume, it could test $0.1569. The neutral RSI and bullish MA crossover support a potential short-term continuation of the uptrend. A 3-5% increase is possible, targeting $0.1380–$0.1400.
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Bearish Case: If the price fails to break $0.1354 and drops below $0.1322, it might retest the $0.1197 support. A lack of volume and a potential RSI dip below 50 could signal a pullback. A 2-4% decrease is possible, targeting $0.1260–$0.1197.
Recommendation:
Short-term traders: Consider a small long position if the price breaks $0.1354 with volume, targeting $0.1400, with a stop-loss below $0.1322. Alternatively, wait for a dip to $0.1260 for a better entry.
