

The chart for reveals intriguing movements over recent periods.
With observed potential reversals and resistance level testing, insight is drawn from both technical patterns and volume shifts.
The analysis provides a cautiously optimistic perspective with the current trends.
The latest candlestick patterns indicate a possible reversal toward bullish sentiment, with formations resembling a morning star or bullish harami.
Overall, the chart depicts a medium-term bearish trend followed by sideways movement, with hints of potential bullish reversal.
Currently, the price is attempting to break through a key resistance level around 88,500, noted alongside a recent pullback near 86,000.
The MACD line crossing above the signal line suggests a bullish crossover and potential momentum shift to the upside.
The MACD histogram's move from negative to positive territory further supports bullish momentum.
No clear divergences are present; the MACD aligns with recent bullish price action.
Volume significantly increased during the recent price rise, bolstering the bullish move.
Notable volume spikes indicate potential institutional buying interest during the bottoming formation.
Such volume activity underscores when testing crucial levels in supporting the upward movement.
Key support is established around 86,000, corresponding with previous test points.
Immediate resistance is identified at 88,500, with a stronger resistance level near recent highs of 90,000.
These levels serve as crucial indicators for possible breakout or pullback scenarios.
Consider buying on a confirmed breakout above 88,500 with increased volume, targeting a short-term move toward 90,000.
Monitor for failure to hold above 88,500, suggesting a potential return to the 86,000 support level.
Watch for confirmation of the bullish reversal, maintained by persistent buying pressure and MACD bullish crossovers.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.