After a 500% run since the last “Go” flag mid October, price has come back from the highs near $60. The GoNoGo trend has reflected this with paler aqua bars. Price is now at levels where we saw a clustering of market activity in November and December. We will look to see if this level provides support.
The GoNo Oscillator is currently riding the zero line and this will be key in informing the next direction of price. A rally from the zero line back into positive territory would likely suggest trend continuation. If the zero line is broken, then price could be set to fall further.