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NTby u/news_trader_max·16dAnalysis

Watching EMQQ at this 33.79 resistance level

Been keeping an eye on $EMQQ today. It's had a pretty solid run, currently up 1.33% and trading around 33.46. What's catching my attention is the high for the day, 33.79. That level feels pretty significant for a couple of reasons. Historically, it's acted as a pretty consistent ceiling on short-term rallies. We've seen a few attempts to break through that zone in recent weeks that have ultimately faded. It's not a hard line, but more of a region where sellers have tended to step in.

My thinking is that if we can close above 33.79 on decent volume, it could signal a shift in the immediate trend, potentially opening up a move higher. However, a rejection from this level, especially with follow-through selling into tomorrow, would reinforce the existing range-bound action. The risk to that more bullish scenario, of course, is a quick reversal and a move back down towards the 33.00-33.20 area. Always good to stay humble; these things can turn on a dime.

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1 Comments

REu/ren5·16d

Good observation on the 33.79 level for EMQQ. Do you think the current broader market strength will provide enough momentum to push through this time, or are you expecting a typical pullback from this resistance?

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