Recent Low: $1.24 (23% below current price)
Recent High: $2.75 (79% above current price)
Indicators:
- Price rebounding from recent low ($1.24)
- Currently trading 23% above recent low
- Still 44% below recent high ($2.75)
Trend:
- Potential reversal or consolidation phase
- Upside momentum building
Support and Resistance:
- Support: $1.24 (recent low)
- Resistance: $2.00 (psychological level), $2.75 (recent high)
Outlook:
- Bullish sentiment building
- Potential breakout above $1.75
- Target resistance levels: $2.00, $2.75
Strategy:
- Long-term holders maintain positions
- Short-term traders scale in above $1.60
- Stop-loss below $1.24
Caution:
- Market volatility
- Potential pull back
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