Resistance Zone: Immediate rejection was noted at the $2.562 – $2.590 range. A sustained hourly candle close above $2.60 is required to trigger the next leg up.
Support Levels: Critical support is established at $2.396. A breakdown below this level may lead to a deeper retracement toward the $2.30 psychological mark.
Momentum Indicators: The MACD is signaling a potential bearish crossover on shorter timeframes, suggesting that the initial buying climax may be cooling off.
The Verdict: Bullish or Bearish?
Current Bias: Neutral/Cautious. The market is currently in an "overbought" state. Expect a short-term consolidation or a minor pullback before the next major move. Smart money waits for the retest of support rather than chasing the green candles at the peak.
Executive Strategy:
For Holders: Tighten your Stop-Loss to lock in gains.
For Scalpers: Look for entries near the $2.40 support flip with a clear exit strategy.
Risk Management: High volatility expected. Avoid high leverage in this zone.
