I'm showing this cart on the weekly time frame to explain what it is visually. Most of the things you already know about "support" and "resistance" apply. On the 4 hour chart the price has also found support on the SMA line. Crossing the purple line is bullish. The question is, will it 2x? 3? 30x?
cheers.
cheers.
Kommentar:
The 4 hour and daily RSI are above 50. Heaviest resistance is at about $6. If we cross the purple line and the SMA calmly then the spring will be loaded.
Kommentar:
But will the upward movement be enough to break out past $6? Next resistance is $17.4 and after that is $27. There is a lot of room to move. It won't take a huge spike in volume to get started. If it were to reach these higher prices that I mentioned it would be pure FOMO.