CPOOL'S BIG BOUNCE

The CPOOL daily chart shows impressive resilience, delivering the most significant bounce among the altcoins observed yesterday. Price action surged from a key demand and support zone between $0.24 and $0.26, a range that has consistently proven to attract buyers. The massive green candle that formed is a bullish engulfing candle, accompanied by a long lower wick that highlights strong buying pressure and rejection of lower prices.

The move propelled CPOOL back above the $0.30 psychological level, with the candle closing near $0.33—a considerable recovery from the intraday lows. The increased volume during the bounce underscores the market's conviction in defending this support zone, which could act as a foundation for further upside.

Currently, the 50-day moving average, situated at approximately $0.40, looms as a key resistance level. If CPOOL continues its upward trajectory, retesting this level would be a pivotal moment to gauge the strength of the recovery. Meanwhile, the 200-day moving average at $0.21 remains a robust long-term support.

Although yesterday's bounce is a positive sign, the market must sustain this momentum to avoid falling back into the support zone. Traders should monitor for follow-through buying and increased volume to confirm the bullish sentiment.

*I own this token, with an earlier entry around 17 cents.