The price has pushed up strongly, breaking through the critical 0.618 Fibonacci level, which now serves as a key support zone. Over the past few days, price action has narrowed, indicating indecision at this level.
Momentum Indicators:
Key Levels to Watch:
If buyers can sustain the price above the 0.618 Fibonacci support, bullish momentum might continue.
A daily close below the 0.618 level could signal a breakdown and a potential correction.
Conclusion:
This is a critical moment. With momentum slowing and indecision dominating the chart, it’s essential to wait for confirmation before taking any action.
A breakout or breakdown from this range will provide clarity on the next potential move.
Momentum Indicators:
- RSI: Currently overbought at 82.
- Stochastic RSI: Also in the overbought territory at 89, with K crossing over D signaling waning buying pressure.
- Rate of Change (ROC): Is declining and sitting at 52, reflecting a slowdown in price momentum.
All momentum indicators suggest that buyers may be losing steam, increasing the likelihood of a correction.
Key Levels to Watch:
If buyers can sustain the price above the 0.618 Fibonacci support, bullish momentum might continue.
A daily close below the 0.618 level could signal a breakdown and a potential correction.
Conclusion:
This is a critical moment. With momentum slowing and indecision dominating the chart, it’s essential to wait for confirmation before taking any action.
A breakout or breakdown from this range will provide clarity on the next potential move.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.