The current implied volatility is +- 129$ from the current opening of the weekly candle, 3499$
With this in mind, we have a 80% chance that the market is going to stay within the range: TOP: 3631 BOT: 3366
At the same time, we can see that the average weekly candle, is around 2.1 - 2.46%
From the technical analysis POV, we can see that our asset is below EMA 50/100/200. At the same from the volume POV, we can see that currently our CMF is negative, indicating a bearish side.
Lastly, we can see that we are close to the most important resistence zone of this asset for this year, which is around 3400 so if we are not going to close below this point, there is a very high chance that the market will rebound and go towards 3500+ Otherwise if we are going to break it, we can expect a downfall movement towards 3300-.
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