BANANA's recent surge has indeed been fierce, with the short-term moving averages being pushed down—7-day, 25-day, and 99-day MAs are all left behind by the price. This indicates that short-term bullish momentum is gradually taking over the market. The MACD on the lower side is also cooperating; when the price surges, a golden cross is usually formed, showing that the momentum is indeed there.
But that's the problem—it's rising too quickly. The 24-hour high and low prices have a gap of $2.3, with such large fluctuations that it's quite alarming. Moreover, the price is now well above all moving averages, clearly entering the overbought zone, so a pullback could happen at any time. Short-term profit-taking pressure is not small.
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AmateurDAOWatcher
· 6h ago
This surge is really fierce, but I think it's a bit risky... It's so obvious that it's overbought, and you're still not selling?
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OffchainOracle
· 6h ago
This surge is indeed quite fierce, but with such big fluctuations, your heart must be really strong...
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DeFiChef
· 7h ago
This surge is indeed fierce, but I still remain bearish in the short term. The overbought condition is a bit excessive.
BANANA's recent surge has indeed been fierce, with the short-term moving averages being pushed down—7-day, 25-day, and 99-day MAs are all left behind by the price. This indicates that short-term bullish momentum is gradually taking over the market. The MACD on the lower side is also cooperating; when the price surges, a golden cross is usually formed, showing that the momentum is indeed there.
But that's the problem—it's rising too quickly. The 24-hour high and low prices have a gap of $2.3, with such large fluctuations that it's quite alarming. Moreover, the price is now well above all moving averages, clearly entering the overbought zone, so a pullback could happen at any time. Short-term profit-taking pressure is not small.