$GNS 24 The position is up 98.9% on the day, nearly doubling, but it failed to hold after surging: this four-hour candle first touched 0.799, then slid all the way back to 0.697. The most recent hour alone saw a drop of 5.5%. The current price is 0.722 USDT, not far from the low and still nearly 10% below that peak. 24-hour trading volume is about 9.83 million USDT.
Whether this rally is pausing or ending comes down to two levels: a sustained move back above 0.799 would be needed for momentum to pick up again; a close below the four-hour low of 0.697 would open the door to another leg down.
One caveat: a market that doubles in a day is naturally volatile, and this pullback may simply be giving back some of the earlier gains. The direction has yet to be firmly established.
#MarketWatch
Whether this rally is pausing or ending comes down to two levels: a sustained move back above 0.799 would be needed for momentum to pick up again; a close below the four-hour low of 0.697 would open the door to another leg down.
One caveat: a market that doubles in a day is naturally volatile, and this pullback may simply be giving back some of the earlier gains. The direction has yet to be firmly established.
#MarketWatch