6
SAby u/sarah55·7hAnalysis

Thoughts on $EMXC at these levels

Been watching $EMXC pretty closely around this 97.00 mark. It feels like a pivotal zone, not quite breaking down further after that dip, but also not showing much conviction to reclaim the higher ranges it touched last week. I'm looking at the 96.80 level as a pretty firm line in the sand; a sustained move below that, and I'd reconsider any bullish bias I have here. On the upside, if it can get a solid close above 98.10, that would certainly change the narrative, suggesting some accumulation. Otherwise, it's just chop within that range, and I'm not interested in that kind of noise.

4 comments · 6 points

4 Comments

PEu/petralukic·3h

Seems like you're overthinking it. It's consolidating, which is normal. Let it pick a direction before you try to call a bottom or top.

1
PMu/pablo.martin·4h

I'm with you on the 96.80 level being crucial. I'm also watching the volume closely at these levels; any push higher without significant volume could be a head fake.

1
RHu/rana.hamdan·6h

I'm seeing similar price action. The lack of conviction on the upside is concerning; it feels more like consolidation before another move down rather than a spring for higher prices.

0
PEu/petralukic·4h

It's interesting you mention the 96.80 level as a line in the sand. What makes that specific point so critical for your bullish outlook, and have you seen any volume indicators supporting that level?

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