Rexas Finance’s Explosive 325% Rally: What’s Next?
Rexas Finance recently made waves with a staggering 325% price surge. Traders are now assessing the market’s next steps as prices correct.
The sudden spike seemed driven by strong momentum. Yet, the real question lingers: Is this a peak, or the start of higher prices?
While trading volume has slowed, the market’s structure hasn’t turned bearish.This suggests the correction could be part of a broader bullish trend.
- High Time Frame Support: $0.109, not yet retested.
- Volume Profile: Declining volume points to consolidation.
- Point of Control: Aligns with $0.109 support.
- Local Resistance: 0.618 Fibonacci retracement.
- Market Structure: No confirmed top or lower low.
After breaking through its value area high, RXS climbed sharply. Such rapid price action usually hints at exhaustion. However, the current correction seems orderly and typical after major rallies.
The $0.109 support level is crucial. This zone marks high time frame support and aligns with previous volume activity. If tested,it could spark a bullish reaction.
Local resistance sits at the 0.618 Fibonacci retracement. If price hits this level and doesn’t break through, it could retreat to $0.109, possibly setting up a base before continuing upwards.
Though price action is volatile, the market hasn’t broken down. There’s no confirmed lower low or bearish structure. This indicates a healthy correction rather then a reversal.
Going forward, watch for a potential bottoming pattern near $0.109. A robust reaction,coupled with more trading volume,could ignite another rally. For now, the bullish outlook persists unless key support fails.
