Recently, the price seems to be consolidating with some upward movement, indicating a possible continuation of the short-term bullish trend.
When prices touch or exceed the upper Bollinger Band, it's often a signal of overbought conditions, and a reversal or pullback could be expected.
In the last few sessions, the candles show higher lows and higher highs, a good signal for bullish continuation.
The green candle today is relatively large, which could indicate stronger buying pressure.
The recent upward movement is supported by a healthy volume (visible in the lower volume bars), indicating strong market interest.
Resistance: The nearest resistance seems to be around the $83.98-$84.00 range (where today’s high reached).
Support: If the price retraces, potential support can be found near the $81.70-$82.00 range (lower bound of today's candle) and the moving average level around $80.
Short-Term Bullish Outlook: Price is currently in a bullish phase above the moving average, supported by decent volume and nearing the upper Bollinger Band. If price breaks above the $84.00 resistance, we could see further upward movement. However, watch for a possible pullback near this level.
Potential Risk: If price retraces, the moving average and lower Bollinger Band around $80 could provide support.
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