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On the 1H chart, price bounced from $77.01 and is now holding above the MA10 and MA30. Buyers also defended the $78.19 area after the rejection from $79.65.
My bullish setup:
• Immediate support: $78.19
• Key support: $77.77
• Breakout level: $79.06
• First target: $79.65
• Next target: $79.94
A clean hourly close above $79.06 could open the way for another test of $79.65 and potentially $80.
If $77.77 is lost, the bullish momentum would weaken.
$HYPE