Support and Resistance:
The price recently tested a support level (around 2,940) and bounced back up.
The resistance area is marked around 2,970.
2. Breakout and Retest Strategy:
The price has broken above the resistance level.
If the price retests this resistance-turned-support and holds, it could continue to rise.
3. Forecast:
If the price stays above 2,970 after retesting, an upward move is expected, potentially continuing a bullish trend.
If it fails to hold above 2,970, it may fall back into the previous range (below 2,940).
The price recently tested a support level (around 2,940) and bounced back up.
The resistance area is marked around 2,970.
2. Breakout and Retest Strategy:
The price has broken above the resistance level.
If the price retests this resistance-turned-support and holds, it could continue to rise.
3. Forecast:
If the price stays above 2,970 after retesting, an upward move is expected, potentially continuing a bullish trend.
If it fails to hold above 2,970, it may fall back into the previous range (below 2,940).
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