The pair is generally bullish but is showing some signs of market correction after meeting a resistant market level. The bulls are still in charge or might be on the hold for a bullish continuation.
Supply levels: $60, $63, and $68
Demand levels: $47,$45, and $41
TQQQ Medium-term Trend: Bullish
From a medium-term angle, the market is still maintaining a bullish approach, though the price is still below the resistant level of $60. There strong indications that the price will go up to break that level, thereby, forcing the price to continue its uptrend up to the next price resistant level of $63 and probably, above it.
Price on the chart is clearly, sitting above the 50 days Exponential Moving Average, hence, the buying trend is still holding. The Parabolic Sar is also below the market price, the meaning is holding tenaciously to the bullish approach.
TQQQ Short-term Trend:
The outlook of the short-term market is in sideways market movement. The market is ranging below the supply price region. If the market breaks the resistant level up, the buying trend or bullish trend will invariably continue
Both market indicators on the graph is close to the current market candles. The $50 Exponential Moving Average too close to the current market candles., likewise, the Parabolic Sar indicator. The Stochastic Momentum indicator is also in a flat mode.
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