> Reason: Facing Resistance on 1 Day time frame Rsi divergence on 5 mint timeframe, Bollinger Bend touch his Upper line on 5 mint timeframe, Shooting Star, bearish Engulfing formation
> Reason: Facing Resistance on 1 Day time frame Rsi divergence on 5 mint timeframe, Bollinger Bend touch his Upper line on 5 mint timeframe, Shooting Star, bearish Engulfing formation #BSCUserExperiences #BSCTrendingCoins #BinanceLaunchpoolGUN
1. **Price Action & Volume** - **Current Price**: $0.072 (+41.48% surge), trading above the **Bollinger Upper Band (0.07162)**. - **24h Range**: Low of $0.04805 → High near $0.07397, indicating strong bullish momentum. - **High Volume**: 57.02M USDT traded, supporting the upward move but raising caution about volatility.
2. **Bollinger Bands (20,2)** - Price is **above the upper band**, signaling potential overbought conditions. Historically, this may precede a pullback toward the middle band (0.06370) or lower band (0.05578). - However, in strong trends, prices can "ride the band," so watch for consolidation or continuation signals.
3. **RSI(14)**: 83.76 - **Overbought territory** (above 70), suggesting exhaustion. A reversal or correction is possible, but trend strength might delay it. Monitor for bearish divergence (e.g., higher price with lower RSI).
4. **Key Levels** - **Resistance**: Immediate at $0.07397 (recent high). Breakout could extend gains. - **Support**: $0.06931 (recent swing), $0.06466 (middle Bollinger Band), and $0.05578 (lower Bollinger Band).