#AI-powered prediction reveals that from August 30 to October 29, 2024, the market exhibited clear bullish trends. During this period, the price base started at 1.55 and peaked at 2.8 by October 12, reflecting a robust market rally with occasional pullbacks.
The 50-day moving average showed an upward trend, which, combined with the 200-day moving average, indicates the likelihood of continued bullish momentum. This crossover suggests a sustained positive market sentiment, bolstering investor confidence.
Furthermore, the Relative Strength Index (RSI) frequently touched overbought zones yet corrected swiftly by moving below 70. This indicates brief periods of high buying activity, as seen around October 7 and 12. However, the RSI remains close to neutral, making it tricky to determine precise entry or exit points without additional data.
Lastly, a high trading volume was observed in late September through early October, correlating with peak prices. Although this hints at a potential decline, the market's historical volume support suggests an underlying strength that counteracts any bearish signals.
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