Oppstar, come already?The price action briefly tested the 0.690 level before retracing, signaling potential resistance at this area. The RSI reaching overbought territory suggests that buying momentum may be overextended, increasing the likelihood of a pullback or consolidation before any further upward move.
Despite this short-term bullish push, the MACD remains below 0, indicating that the broader trend is still weak, and upward momentum lacks confirmation. A bullish MACD crossover above the zero line would strengthen the case for continued upside.
Key Levels to Watch:
Resistance: 0.690 (recent high)
Breakout Confirmation: A sustained move above 0.690 with increasing volume could signal further upside, while failure to break could lead to further downside.
Potential Scenarios:
Bullish Case: If the price consolidates and the MACD turns positive, it could support a stronger upward move beyond 0.690.
Disclaimer: The mentioned stocks are based solely on personal opinions for educational and discussion purposes only. There are no buy or sell recommendations. Trading involves financial risk, and you are responsible for your own decisions. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the information contained herein.
