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Thoughts on $TOP and potential resistance near recent highs
Been watching $TOP's move today, currently around 11.29. It's been quite a run from the lower end of the day's range. I'm noting the previous swing high around 11.705 as a potential area of resistance. While the momentum is clearly to the upside, a push above that level would be a strong indicator of continuation. However, a failure to break and hold above 11.705, especially if we see a rejection candle, could suggest some profit-taking is in order, possibly invalidating the immediate bullish continuation scenario for now. Just my read, always keen to hear other perspectives on this.
1 comments · 10 points
That's a very keen observation on the 11.705 level. I'm wondering if you've also considered any volume profile analysis around that zone, as that might offer additional insights into the strength of the resistance there.