Technical analysis (combining 4-hour and daily lines)
4-hour K-line observation
Current K-line has strongly crossed the medium and short-term moving average area, returning to the upper track area, with slightly increased volume;
Bollinger Bands are starting to slightly expand, indicating an increase in short-term volatility;
The selling pressure point (2.4687) has just been effectively broken, and if it pulls back in the short term without breaking, it indicates a relatively strong performance;
CCI indicator is in the middle zone, not yet overbought, and there is room for further upward movement.
Daily Chart Observation
Daily K-line shows a bullish closing after several days of shrinking volume and a subsequent increase, indicating the formation of a breakthrough structure;
The medium-term downward trendline has been broken, but stabilization still needs confirmation;
Bollinger Bands mid-track is turning upward, indicating a strengthening trend;
RSI is not overheated, with further upward potential.
Recommended trading strategy (short-term strategy)
Current price: 2.475
Current forecast direction: Upward testing
First Target (TP1):
2.675
Second Target (TP2):
2.775
Stop Loss (SL):
2.375 (breaking important moving average + lower support): If it breaks, it will damage the short-term structure, and decisive exit is necessary.
Technical reference range
Bollinger upper track (4H) resistance: around 2.68;
Moving average support: resonance zone formed between 2.40-2.42;
Daily previous high resistance: Beware of selling pressure near 2.775;
Retracement.
