CLO has surged 24% in the past 24 hours and is approaching the key resistance level of 0.5477. From a technical perspective, RSI has shot up to 89, and the J value has surged to 103. Such extreme readings often indicate that short-term upward momentum may face exhaustion. Based on historical performance, when the price has been repeatedly suppressed near 0.5477 multiple times, it typically signifies that significant selling volume has accumulated at that level. Many traders speculate that the current strong rally may be a pump-and-dump by institutional capital after accumulation. Once momentum wanes or a top structure forms, a decline toward 0.45 is possible. Short-term traders should closely monitor price action near the resistance level to identify shorting opportunities.
CLO has surged 24% in the past 24 hours and is approaching the key resistance level of 0.5477. From a technical perspective, RSI has shot up to 89, and the J value has surged to 103. Such extreme readings often indicate that short-term upward momentum may face exhaustion. Based on historical performance, when the price has been repeatedly suppressed near 0.5477 multiple times, it typically signifies that significant selling volume has accumulated at that level. Many traders speculate that the current strong rally may be a pump-and-dump by institutional capital after accumulation. Once momentum wanes or a top structure forms, a decline toward 0.45 is possible. Short-term traders should closely monitor price action near the resistance level to identify shorting opportunities.