The price has made an attempt to break above the 200 EMA on the hourly timeframe. A breakout above the 200 EMA would potentially drive the price towards the key resistance level at POC. Additionally, a breakout above the POC would serve as a signal for the beginning of an ascending trend. However, it is important to consider the bearish scenario as well.
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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.