Support and Resistance Levels
- Primary Support Level: 61355 (38.2% retracement level)
- Secondary Support Level: 60468 (23.6% retracement level)
- Primary Resistance Level: 62736 (61.8% retracement level), close to the current price
- Secondary Resistance Level: 65109 (recent high)
Market Trend Forecast:
- If the price rises:
- Check to see if it can break through the 62736 resistance level. If it breaks through, the next target might be 65109.
- Breaking 65109 could lead to more upward momentum.
- If the price falls:
- Observe whether the price will break below the 61355 support level. If it breaks down, it might further explore down to 60468.
- If it breaks below 60468, it could be tested down to a lower support level at 58949.
Conclusion:
The current price is close to the Fibonacci 61.8% retracement level, which is a crucial resistance level. Investors should closely monitor this level as it may determine the short-term direction of the price. If the price can maintain stability above this level, it may continue to explore upward; if the price fails to break through and falls back, attention should be paid to the support levels below, especially 61355 and 60468.
