MZH Zee

08/05 02:24

Price Forecast Faces Resistance The rise in M co

Price Forecast Faces Resistance

The rise in M coincides with a break of the 0.236 Fibonacci resistance level, a barrier that previously held back the price gains between July 21 and July 24.

At press time, the asset was approaching the untested 0.5 Fibonacci resistance level. A successful break of this level could open the way for further gains, as subsequent levels show minimal selling pressure.

The Average Directional Index (ADX) confirms this bullish outlook, reaching a high of 58, indicating that the current uptrend is supported by sustained momentum and could continue.

Overall, sustained buying pressure could contribute to a break of M’s previous all-time high.



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