BURGER/USDT: Testing Key Resistance Amidst Bullish Momentum
$BURGER
The #BURGERUSDT pair on Binance's 4-hour chart is currently trading around $0.4511, positioned below the 200-period moving average (MA) of $0.3655 and slightly above the Volume Weighted Average Price (VWAP) of $0.4494. The current positioning above the VWAP but below the 200-MA suggests a mixed sentiment with potential bullish momentum in the short term.
VWAP is at $0.4494, close to the current price level, indicating a recent consolidation around this level. The price being above the VWAP suggests a slight bullish bias in the immediate term.The Relative Strength Index (RSI) is at 52.49, which is in neutral territory, indicating that the market is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) shows a slight bullish crossover, with the MACD line just above the signal line and the histogram moving into positive territory. This suggests the possibility of a bullish trend continuation if the momentum sustains.
Resistance Levels: The immediate resistance level to watch is around $0.4794. A breakout above this level could lead to a further rise towards the next significant resistance zone around $0.5459.Support Levels: On the downside, the primary support level is near $0.4000. A break below this level could lead to further declines towards the next support zone around $0.3655 (200-MA).
