While prices have certainly given a solid return for anyone who placed a bet around the support right below $1, current price action IMO does not provide a good risk/reward (also factor in the wild intraday
price swings).
Despite prices building up well below the AVWAP from the Jan 2023 highs and breaking out on Friday, the large daily range over the past week generally is a signal for no new buys. Add to this, the declining 200
day MA which is currently around $2.06 and also strong medium-term resistance around $1.80.
price swings).
Despite prices building up well below the AVWAP from the Jan 2023 highs and breaking out on Friday, the large daily range over the past week generally is a signal for no new buys. Add to this, the declining 200
day MA which is currently around $2.06 and also strong medium-term resistance around $1.80.