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Bullish Momentum Building Up for SORA/WETH

SORA/WETH has exhibited a significant increase in price over the last few hours, currently trading at 0.02066 USD, which is a 32.87% increase. Analyzing the 4-hour chart, we can observe a steady upward trend following a sharp price spike. The volume has been increasing, as evidenced by the taller green volume bars, indicating strong buying pressure. Furthermore, the Relative Strength Index (RSI) is around 66, which is below the overbought threshold of 70, suggesting that there is room for upward movement before the asset becomes overextended.Prediction:Given the current momentum and the absence of bearish reversal patterns, it appears likely that the SORA/WETH pair will continue its upward trajectory. The immediate resistance can be identified around the recent high of 0.02421 USD. A break above this level could signal continuation towards higher price targets.Trade Idea:Entry Point: Look for consolidation above the 0.02066 USD level to confirm support and enter.Profit Targets: The first profit target is set at the recent high of 0.02421 USD. If the momentum persists, a second target could be around the 0.03 USD psychological level.Stop Loss: A stop loss can be placed just below the recent swing low at 0.01415 USD to protect against any sudden trend reversals.
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