Trade setup: Following a bullish break above 200-day moving average and $260 resistance zone, price resumed its uptrend and broke through out target of $300 resistance as well. Next resistance is at $350, however, price is now very overbought (RSI > 80). Hence, near-term, we’re likely to see it pause here on some profit taking. We wait for a pullback.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $260 (previous resistance), then $220. The nearest Resistance Zone is $300, which it broke, then $350.
Trend: Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bullish but extremely overbought. ( MACD Line is above MACD Signal Line). RSI is bullish (> 55) but extremely overbought (> 80) which could imply that price could briefly pause or pull back if it reaches Resistance.
Support and Resistance: Nearest Support Zone is $260 (previous resistance), then $220. The nearest Resistance Zone is $300, which it broke, then $350.