TQQQ was taken over by the bulls for a while now. The North price movement of the market has broken basic resistant levels, there consolidating the bullish outlook.
Supply levels: $60, $63, and $68
Demand levels: $54, $51, and 46
TQQQ Medium-Term Trends: Bullish
The market from its medium-term approach is bullish. This up drive triggered last week after the price met strong resistance and the demand price of $46. This level now forms a support for the market, being that the price is now heading up to the supply level of $60. And a further break above this level will also move the price up to $63, or even $68.
Graphically, the 14 Moving Average Indicator has crossed over for a bullish indication. Remaining, a piercing of the Ichimoku Cloud, to consolidate the bullish trend.
TQQQ Short-Term Trend: Bullish
The price will still maintain its north movement in the 4-Hours time frame. The bullish trend is still imminent even though the market is temporary, hitting a key level.
The chart shows that the trend is still a buy one. This does not call for a hurry in executing trades for a buy, is ideal to wait for the price to break out of the supply level of $60, where the Ichimoku Indicator is also indicating a resistance, or still allow the market to come down a little to the demand price level of $54 before entering for a bullish market.
Note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results