Yeah, you’re onto it. Treat it as a resistance zone as that’s exactly what it is. Technically that zone should be a little higher as you can see so much churn above it but I drew it in at the most recent high. But you’re right, start tagging above that zone and it indicates that holders are hanging on which is good. Don’t be discouraged if there are retraces along the way, it’s quite healthy and allows for a higher peak.
All just my opinion.
Cheers.
EYE Price at posting:
29.0¢ Sentiment: None Disclosure: Not Held
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