$USUAL CAN IT BREAK THE PEAK?

Based on the indicators:

Price and EMA:

The current price (1.3979) is above the EMA6 (1.3535), EMA24 (1.2517), and EMA50 (1.1443).

This is a sign that the uptrend is still prevailing in the 4-hour timeframe.

RSI:

RSI(6) = 70.27 and RSI(12) = 63.58 are both in the near overbought zone. This indicates that the upward momentum remains but a slight correction may occur soon.

MACD:

The MACD line (0.0146) is above the DEA signal line (0.0504), and the histogram is positive.

This is a continuing bullish signal, but the upward momentum is not too strong.

Trading Volume:

The 24-hour trading volume shows high interest, with a 7-day increase of 66.24% and over 500% in 30 days.

Assessment:

The main trend is upward, but the RSI near the overbought zone indicates short-term correction risks. If a correction occurs, the price could return to test support around EMA6 (1.35) or EMA24 (1.25).

The uptrend may continue if the price remains above EMA6 and trading volume increases steadily. The next target is to test the resistance level of 1.4471 (24h peak).

Trading Strategy:

If you have entered a position:

You may consider taking partial profits when the price reaches 1.44 - 1.45.

Set a stop loss below the EMA24 area (~1.25).

If you haven't entered a position:

Wait for the price to correct to the EMA6 area (~1.35) or EMA24 (~1.25) to buy in, keeping in line with the upward trend.

Avoid buying when the price is in the high RSI zone or near resistance.

(Cre: blogcryto)

Break the peak now!!