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Context of the Current Movement

• The chart indicates an upward movement with strong momentum, reaching a peak of 2.3420, followed by a correction or consolidation.
• The rise was accompanied by a significant increase in volume, which demonstrates buying strength.

• After reaching the local top, the price encountered resistance and began a slight retraction.
2. Support and Resistance Identified
• Major Resistance: 2.3420 (recent peak). A break of this level could lead to a continuation of the rally, especially if volume follows suit.