After price reached it's all-time high, it ranged in a downtrend from there. It recently moved up aggressively where it broke above the previous lower high leaving a 1h demand zone at $4.29 and an imbalance at around $4.5. MACD lines crossed and is now bullish, RSI is bought and price is back above EMAs. I am looking forward to entering at the 1h demand zone aiming for a new all-time high however i would be looking for low timeframe confirmation once it taps into this area before setting a limit trade.
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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.