Based on the K-line chart analysis, after the double bottom entered an upward channel, it has recently accelerated its rise and broken through the upper boundary of the channel. The main upward wave is likely to begin soon. The MA5, MA20, and MA60 are in a bullish alignment, and during the price correction, it did not effectively break below the MA20. The bullish trend is healthy and stable.
In addition, this round of rally has been accompanied by continuous volume expansion. The pattern of rising volume and price supports the upward trend. On the MACD indicator, the fast line has already crossed above the slow line to form a golden cross, and the gap between them continues to widen. The red momentum bars are lengthening and remain above the zero axis, indicating that the upward momentum is still increasing.
Trading suggestion: Buy near 2930-2880, target around 3000-3080-3200. If broken, continue to look higher. Long-term target 3500. Use your own position size for risk management.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Based on the K-line chart analysis, after the double bottom entered an upward channel, it has recently accelerated its rise and broken through the upper boundary of the channel. The main upward wave is likely to begin soon. The MA5, MA20, and MA60 are in a bullish alignment, and during the price correction, it did not effectively break below the MA20. The bullish trend is healthy and stable.
In addition, this round of rally has been accompanied by continuous volume expansion. The pattern of rising volume and price supports the upward trend. On the MACD indicator, the fast line has already crossed above the slow line to form a golden cross, and the gap between them continues to widen. The red momentum bars are lengthening and remain above the zero axis, indicating that the upward momentum is still increasing.
Trading suggestion: Buy near 2930-2880, target around 3000-3080-3200. If broken, continue to look higher. Long-term target 3500. Use your own position size for risk management.