【See Increase】
MUB is currently quoted at 1,080.0, up 3.50% over the past 24 hours. Its 7-day gain is 16.70%. The intraday range is 1,023.3–1,082.8, with a volatility of 5.8%.
【Market Snapshot】
During the market’s bottoming-out phase, MUB is still able to stay positive for the past 24 hours, indicating there is independent capital propping it up.
The support at 1,023.3 has held up after two rounds of testing.
Compared with BTC’s +0.47%, MUB’s relative strength is leading. Such assets are usually rebound frontrunners.
In the short term, the bias is bullish.
【Bullish Rationale】
The 7-day upside of 16.70% has already been largely priced in; this leg higher is backed by support at the weekly timeframe.
The 1,082.8 level has been tested repeatedly, and the bulls have no intention of yielding for now.
The risk is that after the short-term rally, profit-taking could appear at any time; chasing higher can easily get you “wicked” by a brief spike.
From a trading perspective, use 1,023.3 as the stop-loss, and look for the upside toward a breakout of 1,082.8.
$MUB #MUB