The price is currently trading around the 3353 level, after bouncing from a key support zone at 3329 dollars.
In the first scenario, if the price continues to rise, it’s expected to reach the 3398 level — a very strong resistance area, as it aligns with a descending trendline and multiple previous highs. This zone could trigger a strong pullback, and we expect a new decline back toward the 3329 and 3319 levels respectively.
The MACD is giving a bullish signal, and the Stochastic is also moving up from the oversold area, which suggests the possibility of a temporary upward move.
In the first scenario, if the price continues to rise, it’s expected to reach the 3398 level — a very strong resistance area, as it aligns with a descending trendline and multiple previous highs. This zone could trigger a strong pullback, and we expect a new decline back toward the 3329 and 3319 levels respectively.
The MACD is giving a bullish signal, and the Stochastic is also moving up from the oversold area, which suggests the possibility of a temporary upward move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.