1. Price Above the 200-Day Moving Average (MA): The price has reclaimed and is trading above the 200-day MA (red line), which is typically considered a bullish signal in technical analysis. This suggests potential long-term support and a shift in sentiment.
2. Month Support Zone: The blue rectangular area marks a significant support zone that has held for approximately 4 months. This indicates strong buyer interest in this range, providing a foundation for potential upward momentum.
3. Volume Increasing: The recent increase in volume (visible on the volume bars) supports the breakout above the 200-day MA and suggests growing market participation, which strengthens the bullish case.
2. Month Support Zone: The blue rectangular area marks a significant support zone that has held for approximately 4 months. This indicates strong buyer interest in this range, providing a foundation for potential upward momentum.
3. Volume Increasing: The recent increase in volume (visible on the volume bars) supports the breakout above the 200-day MA and suggests growing market participation, which strengthens the bullish case.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.