ULTI on the Rise: Will It Break Through This Key Resistance?Trend Analysis
1. Current Price Movement: The price is currently trading at 0.06687 USDT.
2. Support and Resistance:
Immediate Resistance: 0.06956 USDT (Highlighted in the red shaded area).
Next Resistance Level: 0.07518 USDT.
Immediate Support: 0.06457 USDT.
Next Support Level: 0.05735 USDT.
Indicators
1. Stochastic RSI:
The Stochastic RSI is in the overbought territory with %K at 98.97 and %D at 90.76. This suggests that the price might face a short-term correction or consolidation.
2. Cumulative Volume Delta (CVD):
The CVD is showing a positive value (35.393M), indicating buying pressure and accumulation at the current price levels.
Price Projections
1. Potential Pullback: The price might pull back to the lower part of the ascending channel or to the next support level at 0.05735 USDT.
2. Bullish Scenario: If the price breaks above the immediate resistance of 0.06956 USDT, it could aim for the next resistance at 0.07518 USDT or even higher towards 0.08054 USDT.
