Chart Observations:
Overall Trend:
FILUSDT is currently in a strong upward movement as indicated by the price moving significantly above the 200 SMA (Simple Moving Average) at 4.020, confirming a bullish trend.
The price has made a significant recovery from its earlier downtrend, surpassing key resistance zones.
Support and Resistance Levels:
Immediate Resistance: The price is currently approaching a resistance zone near the 5.8 to 6.0 level. This area has seen past price rejections, and a breakout above this level could signal further upward momentum.
Immediate Support: The support is observed around the 5.0 to 5.2 level, where the price has consolidated in the past and formed a base for the current rally.
RSI (Relative Strength Index):
RSI is at 64.48, which indicates the asset is nearing the overbought territory. However, it still has room to climb before signaling a potential reversal or consolidation.
MACD (Moving Average Convergence Divergence):
The MACD histogram shows a bullish momentum with the MACD line crossing above the signal line. This confirms increasing buying pressure.
Volume Analysis:
The volume at 1.906M supports the recent upward move, indicating strong market participation. Sustained high volume could further strengthen the upward trajectory.
Cluster and Zone Analysis:
The second chart highlights a strong demand zone between 4.0 and 4.5. This area has been tested multiple times, serving as a solid support for future corrections.
The breakout above the resistance cluster between 5.0 and 5.5 indicates bullish strength, confirming the reversal of the previous downtrend.
FILUSDT is showing strong bullish signals with increasing momentum and volume. However, traders should monitor resistance levels closely, especially at 5.8, as this could determine the next move. RSI nearing overbought levels suggests caution, but the overall trend remains positive.
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