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Summary
• Price surged from $0.0573 to $0.06487 amid strong bullish momentum and rising volume.
• Key resistance appears near $0.0596–$0.0606 while support is reinforced at $0.0581–$0.0586.
• MACD and RSI show overbought conditions, suggesting potential consolidation or pullback.
• Volatility expanded as Bollinger Bands widened post-03:00 ET, reflecting heightened market interest.
• Notional turnover spiked during midday hours, confirming price highs but diverging after 14:00 ET.
Structure and pattern analysis identified a strong bullish breakout forming after 08:30 ET, with a key resistance level forming around $0.0596–$0.0606, coinciding with prior highs and Fibonacci 61.8% levels. A large-volume bullish engulfing pattern emerged at 09:30 ET, confirming upward momentum. However, RSI reached overbought territory above 70, and MACD showed divergence with a narrowing histogram, suggesting potential exhaustion or consolidation.

Bollinger Bands reflected a period of volatility expansion, peaking at 09:30 ET as price surged past the upper band, while a contraction began around 14:00 ET, indicating waning momentum. Volume and turnover aligned with price action during the morning session but showed some divergence in the afternoon.
Moving averages on the 5-minute chart saw price retrace slightly below the 20-period line by 16:00 ET, suggesting a possible pullback. The 50-period line remains bullish at $0.0590.
The market appears poised for a potential correction or consolidation phase ahead. Investors should monitor key support at $0.0581–$0.0586 and watch for reversal patterns or renewed volume to confirm a sustained move higher.
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