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Summary
• Price tested key resistance near 0.806 before consolidating, with bullish engulfing patterns visible in early morning sessions.
• RSI signaled overbought conditions briefly near 0.81 but pulled back into neutral territory, indicating possible profit-taking.
• Volatility expanded in the 10:00–11:30 ET window, with volume spiking 2.5x above 24-hour average during a breakout attempt.
• Bollinger Bands tightened in late afternoon, setting up a potential breakout as price hovered near the 1 SD level.
• Fibonacci levels at 0.804 (38.2%) and 0.808 (61.8%) appear to be key psychological barriers for short-term direction.
The price action revealed a strong short-term bullish bias, with a 2.9% rally from the session low at 0.783. A bullish engulfing pattern formed near 0.806

Bollinger Bands showed a noticeable contraction in the early afternoon, followed by a sharp expansion after a volume spike pushed the price past 0.81. The 20-day MA held as dynamic support near 0.803, suggesting short-term buyers remained active. Volume remained above average throughout the day, but the lack of sustained upward momentum beyond 0.815 suggests a possible consolidation phase ahead.
Looking ahead, a break above 0.815 may test the 0.82–0.825 range, but a failure to hold above 0.805 could signal a retest of 0.795. Investors should monitor volume behavior and RSI divergence to assess the sustainability of the current rally.
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