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It seems that on March 11, the price established a new low, which is unlikely to be revisited in the near future, as a convergence with the Marlin oscillator has formed.
Currently, the price is rising due to a renewed appetite for risk, approaching the significant resistance level of 90,873—the low from November 26, 2024. The price reversed near this level on December 6 of last year and again on February 3 of this year. If there is a breakout and consolidation above this level, it could lead to further growth toward 94,966, potentially targeting the MACD line.
On the H4 chart, the price has settled above the MACD line, and the Marlin indicator has consolidated within the uptrend territory. The short-term outlook appears bullish, and we hope this trend will strengthen into a medium-term movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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