๐$LINK The spring is stretched to the maximum, and the explosion is near ๐ฅ๐
The price is currently squeezed between two jaws of fire: an ascending support touched 20 times at $12.19, and a descending resistance with 13 touches at $12.26.
The gap between them? Only $0.07! We are literally at the top of a converging triangle, and the pressure has reached its peak after 467 candles of compression.
What's happening?
- The price is below EMA50 and EMA200 โ the overall trend is still downward
- ADX at 41.3 โ the trend is strong and confirmed
- The volume is weak (63% below average) โ the current rebound lacks conviction
- MACD gave a bullish crossover, but without support from volume
- RSI is neutral, and MFI is slightly high (67.3) โ no clear confirmation
The closest scenario?
๐ป Breaking the support at $12.21 with strong volume could open the door for a rapid drop towards $11.73, especially with unprotected liquidity below the lows.
But what if the opposite happens?
๐ผ Breaking $12.52 with significant volume could flip the table and take us towards $14.19, but this possibility is weaker currently.
In summary:
The technical structure says "downward," but the market always loves to surprise. Don't enter until confirmed, because if the spring explodes... there's no turning back.
