Gaps in charts occur when the price jumps significantly from one trading session to another, leaving a "gap" in the price levels on the chart.
From what I see, most prior gaps appear to have been filled as the price moved up and down through those levels. A "filled gap" means the price has revisited and traded through those levels.
Resistance Levels:
Resistance refers to a price level where selling pressure might overcome buying pressure, causing the price to stall or reverse.
Key resistance levels based on the chart:
$0.023 AUD: This was the recent high, and it might act as resistance in the short term.
$0.025 AUD: A psychological level and a round number often acts as a strong resistance point.
Support Levels:
Support refers to a price level where buying pressure might overcome selling pressure, preventing the price from falling further.
Key support levels based on the chart:
$0.018 AUD: The most recent low from the current upward trend.
$0.015 AUD: This level held well before the recent surge, providing solid historical support.
Moving Average:
The chart shows a moving average (likely the 50-day or 20-day), which can act as dynamic support or resistance. Currently, the price is trading above this average, which is a bullish sign.
Summary:
Support levels: $0.018 AUD and $0.015 AUD.
Resistance levels: $0.023 AUD and $0.025 AUD.
The overall trend appears bullish, but keeping an eye on volume (strong volume indicates more conviction) and these key levels will be important.
GCM Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
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