First Digital (FDUSDUSD) Attacks a Pivotal Resistance - Analysis - 12-24-2024

After a significant rise in the price of First Digital USD (FDUSDUSD) during its recent trades at the moment levels, to collide with the pivotal resistance level of $1.0081, which forced it to rebound downward due to the stability of that resistance, to reduce much of its early gains, in a quick attempt to gain positive momentum that may help it penetrate that resistance, amid its impact by breaching a minor downward trend line, and with continuous positive support due to its trading above its simple moving average for the previous 50-day period, with the beginning of positive signals from the relative strength indicators, after reaching areas of severe saturation with selling operations.

Therefore, we expect the price of the currency to rise during its upcoming trades, especially in the event that it breaches the pivotal resistance level of $1.0081, to then target the resistance level of $1.0160.

Expected direction for upcoming trades: Likely to rise $FDUSD