Since BAL hit its all-time high value in May '21, this token has mainly been trading bearish.
However, BAL seems to be on a run lately, being one of the top performers of the last week or so. This massive bullish move has brought BAl to a huge resistance, the resistance from the ATH to the last local top.
In case of a bullish break out, I'm expecting a lot of volume pouring in. Targets are placed at recent local tops. However, it's also very possible that we're going to see a rejection of the resistance. I doubt whether we're going to move towards the support, but a couple of red days might be needed before we got the strength to push through the resistance.
Happy trading!
However, BAL seems to be on a run lately, being one of the top performers of the last week or so. This massive bullish move has brought BAl to a huge resistance, the resistance from the ATH to the last local top.
In case of a bullish break out, I'm expecting a lot of volume pouring in. Targets are placed at recent local tops. However, it's also very possible that we're going to see a rejection of the resistance. I doubt whether we're going to move towards the support, but a couple of red days might be needed before we got the strength to push through the resistance.
Happy trading!
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