1. Overall Trend
Short-Term Trend: The price is in a strong uptrend, trading well above the MA200 (currently at $9.38), indicating a bullish sentiment.
Long-Term Trend: The chart shows a breakout from a prolonged consolidation phase, transitioning into a bullish trend with significant momentum.
2. Support and Resistance Levels
Support:
Immediate support lies at $15.33, which was a prior resistance now turned into support after the breakout.
A stronger support zone is at $14.31, where buyers previously stepped in during the breakout.
Resistance:
Immediate resistance is at $18.00, which aligns with the recent high.
Stronger resistance lies at $20.00, a psychological level and historical peak.
3. Technical Indicators
RSI (Relative Strength Index): The RSI is at 64.27, indicating strong bullish momentum but nearing overbought territory, suggesting caution for potential pullbacks.
MACD: The MACD is bullish with a wide gap between the MACD line and the signal line, confirming strong upward momentum.
Volume: Volume is significantly high, supporting the bullish breakout and indicating strong buying interest.
4. Cluster and Zone Analysis
Demand Zone: The $14.00–$15.30 zone acts as a critical demand area where significant buying interest has been observed.
Supply Zone: Selling pressure is expected near $18.00–$20.00, as the price approaches key resistance levels.
Actionable Insight: Watch for a breakout above $18.00 with volume confirmation for a potential continuation to $20.00 or higher. On the downside, $15.00 serves as a key support level for potential pullbacks. Monitor the RSI as it approaches overbought levels, signaling possible corrections.
