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The past five days have been among the most aggressive bull runs that Numeraire price has ever been in. The current trend started on June 27th when prices closed with less than a percentage point, after losing 6 per cent the previous day.
By June 28, the bullish trend had become more aggressive, and in the early trading hours of the trading session, the prices had jumped by over 30 per cent. However, the prices would drop during the intraday trading and the crypto closed the markets with a gain of 5 per cent.
By June 29th, the crypto had already peaked the bullish steam, and in the early trading hours of the session, the prices were up by 124 per cent. However, an intraday sell-off saw the prices start to drop again. By the end of the session, Numeraire was up by 46 per cent, having lost 33 per cent during the intraday trading.
The bullish trend peaked again in yesterday’s trading session. The momentum and volatility of the cryptocurrency saw its prices rise by 200 per cent. However, as it had been the case in the previous three trading sessions, the prices dropped in the late hours of the trading session, which saw the crypto close the market with a net gain of 80 per cent.
Today, the Numeraire price is up by 19 per cent. It is also at the peak of the trading session. Looking at the previous price action, there is a high likelihood that the intraday trading will continue going up, with a high probability of the prices setting a new weekly price high by trading above the $40 price level (which was yesterday’s highest level).
I also expect the prices to drop in the late hours of the trading session. The drop will continue a trend that we have seen the whole week, where the prices, after breaking the previous day’s high, end up dropping and closing below the price high.
On the flip side, if the prices retrace back and trade below today’s opening price of $24, then my analysis will be invalidated. It will also mean a possible correction, and a future bear or sideways market trend.
This post was last modified on %s = human-readable time difference 09:39