SAVMUSDT Stalls at Monthly Hurdle: Pullback or Re-Test Incoming?

SAVMUSDT is facing significant resistance at $8.506, a key level on the monthly chart. Given current market conditions, a breakout appears unlikely in the immediate future.

Technical Analysis:

Resistance: $8.506 (Monthly)
Support: $7.391 (Daily), $6.630 (Daily), $5.449 (Monthly Pivot)
Volume: (Not mentioned in the provided text)

Key Observations:

• SAVMUSDT is encountering resistance at a crucial level on the monthly chart. Overcoming this hurdle could signal a continuation of the uptrend.
  
• The recent price rejection suggests a potential pullback or a retest of this resistance zone in the future on the daily chart.
  
• If the price falls, it could find support at $7.391 (daily), followed by $6.630 (daily) and then $5.449, which is a significant support level on the monthly chart (monthly pivot).
  
• Conversely, a successful breakout above $8.506 could lead to further gains towards $9.246 (second daily resistance) and potentially reach $10.666.
  
• SMA 200 can play a pivotal support role for SAVM
  

Conclusion:

The inability to break through the $8.506 resistance on the monthly chart suggests a potential pause in the uptrend. Traders should closely monitor the price action around this level. If the price pulls back, established support levels exist at $7.391 (daily), $6.630 (daily), and $5.449 (monthly pivot). Conversely, a breakout above resistance could signal a surge towards $10.666.

This information is for educational purposes only and should not be considered financial advice. Please conduct your own research before making any investment decisions.