General Price Reading $ARDR
Trend: The currency is in a very clear explosive upward movement (Parabolic Move), having risen by approximately +76% to reach levels of 0.09361.
Peak and Trough: The price rebounded from a nearby trough at 0.05352 and reached a temporary peak at 0.10307.
Current Situation: We notice some small red candles (profit-taking) after touching the 0.10 level, indicating strong psychological and technical resistance at the $0.10 area.
2. Technical Indicator Analysis
Relative Strength Index (RSI): The current value is 70.59. Technically, any number above 70 is considered entering the "overbought" area. This does not necessarily mean an immediate drop, but it warns you that the risk in buying from these areas is high.
MACD Indicator: The lines are trending upwards above the zero level, and the green bars are increasing, reflecting very strong buying momentum at the moment.
Stochastic Indicator (Stoch RSI): The indicator has started to cross downwards from high levels, which may indicate the beginning of a slight correction or sideways movement before determining the next direction.
3. Important Levels (Support and Resistance)
Next Resistance: The area of 0.10300 - 0.10500. Breaking this level and staying above it could open the door to much higher levels.
First Support: The area of 0.08375 (which is a previous trading area that the price may test in case of correction).
Second (Strong) Support: The area of 0.07284.
