PHA Technical Analysis: Are You Set to Rally to $1?
Technical Points:
1. Current Price: $0.4477.
2. 24-hour Upside: +85%.
3. Daily High: $0.5009.
4. Daily Low: $0.2334.
5. Trading Volume (24-hour): 447.7 Million PHA.
Indicators:
1. RSI (Relative Strength Index): 87.02 → In the Overbought Zone, Indicating a Possible Price Correction.
2. Flow Volume:
Higher flow indicates the dominance of buying forces (179.27 Million in large orders).
Selling flows are moderate.
Support and Resistance Levels:
1. Strong Support: $0.3769.
2. Nearby Resistance: $0.5000.
3. Next Important Resistance: $0.55 - $0.60.
Will it reach $1?
Based on the current momentum, if the high volumes and bullish momentum continue, it could approach $1.
But watch for possible corrections especially with the RSI indicator being very high.
Recommendation:
If you are thinking of entering, wait for a correction to the $0.3769 support level.
If you are already an investor, watch the $0.50 level as an initial resistance level.