SUN pumped 55%. Is this a breakout?
This is a SUN idea.
SUN suddenly had a 55% pump in the market and became today's top gainer.
There is not enough volume in the market to support this pump, and also, there is a solid resistance level on the way up, pushing down on price.
The price still hasn't successfully passed the local resistance level, so do not FOMO and wait for better confirmation.
There are two scenarios in the current situation:
The price will pass the local resistance and move to the solid resistance area and gets rejected and falls back on the local resistance and turns it into support.
Local resistance will reject the price and fall back to the half-shadow support levels.
RSI is in the overbought area, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.