TL;DR: Potential $8.60 retest coming up after period of consolidation. If broken, price could be heading for $9 - $10 range.
Looking at the 1h chart we had an impulse move from about $5 up to the ATH at ~$8.60. The price has been consolidating for about 21 hours now. Nothing has suggested a trend reversal, which leads me to believe that the next impulsive move will be to the upside.
If we project the previous 50% bull run from the current price, it would put us near $10 which is fair, as we can expect a lot of resistance at that price.
Before getting to the $9 - $10 range, there will be resistance from the ATH at ~$8.60, which could be a good take profit area, as we could see a bounce as trapped traders who bought the top are looking to get out.
This all hinges on the bottom trend line continuing to act as support.
Looking at the 1h chart we had an impulse move from about $5 up to the ATH at ~$8.60. The price has been consolidating for about 21 hours now. Nothing has suggested a trend reversal, which leads me to believe that the next impulsive move will be to the upside.
If we project the previous 50% bull run from the current price, it would put us near $10 which is fair, as we can expect a lot of resistance at that price.
Before getting to the $9 - $10 range, there will be resistance from the ATH at ~$8.60, which could be a good take profit area, as we could see a bounce as trapped traders who bought the top are looking to get out.
This all hinges on the bottom trend line continuing to act as support.