An ascending channel breaking out on the upside indicates a potential bullish rally.
However, we see that there’s a near term resistance level above the breakout level. Watch out for
further price action to know whether bulls will push price past the resistance level or the
resistance level will hold and cause a price reversal.
Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.