Making the distinctive symbol has only turned the key level – how high the price is going in May?
Render began to move again after testing a large resistance area, and the bulls are trying to control the higher time frames. Permanent analysts in Kennedy and Crypto Seth’s encryption have pointed to a strong bounce after the distinctive symbol was held at low support levels. Now that the price of the offer has risen against a sign of $ 4.50, many closely monitor to see if this momentum can continue, and whether the next station may be about 6.00 dollars.
According to Crypto Kindie, the offer price increased twice from the level of $ 2.50, which coincides with its highest levels in May 2023. This support has been occupied through multiple re -test operations, and created a basis for the latest upward step. On the weekly graph, the price reached $ 4.50, which is an area where it converges the highest and descending trend. However, when writing, trading $ 4.29 and witnessed some decent gains during the past day.
The price procedure shows a recovery phase of the highest level in the middle of 2024, about $ 11.00, with the market unification between $ 2.50 and $ 6.00 since then. Since the current price is re -testing $ 4.50, traders focus on whether the size will increase enough to support the penetration. Crypto Kindie also set the weekly 50 -moving average near 6.00 dollars as a future interest field if the current resistance gives way.
Also read: Should you throw $ 2000 in XRP now? This is what the plans say
Providing the price leads to its highest new local levels
Crypto Seth shared a short -term scheme that shows that the offer rate is actively paying through the level of $ 4.49. At the time of publication, the symbol reached a hearing of $ 4.489. Seth noted that although the simple decline is possible, the resistance area may not hold for a longer period.
Technical indicators confirm this trend. The RSI Index (RSI) is about 65.89, is about to excessive residence in the peak but it still suggests an area of in -treatment. MACD also displays a bullish intersection, with a graphic drawing with a height that supports continuous assembly. These indicators indicate a positive momentum, although a temporary stop can happen if the resistance remains intact.
The upcoming expectations: 6.00 dollars on the horizon if the bulls maintain the momentum
The current price is suggested to a possible transformation in the structure if 4.50 dollars turned into a certain support. A successful penetration and weekly closure can open above this level to the 6.00 dollars. This level is in line with the 50th weekly moving average and may serve as the following technical resistance.
The price must fail to close over $ 4.50, in the short term in the short term The decline is still about $ 4.00 or less possible. However, the broader direction continues to show a series of upper low, which enhances the opinion that the bulls acquire the land. The weekly and material plans show the structure construction towards a continuous direction, but the confirmation depends on the price behavior near the current resistance levels.
Follow us X (twitter)for Coinmarketcap and Binance Square For more daily encryption updates.
Get all our future calls by joining A free telegram group.
We recommend etoro
The community of active users and social features such as news extracts, and chats to obtain specific metal coins available for trading.
A wide range of assets: cryptocurrencies along with other investment products such as stocks and traded investment funds.
Trading copies: It allows users to copy prominent traders trading, for free.
Easy to use: ETORO web platform on the web -based etoro and the mobile application is easy to use and easy to move.
