- Firo price surges as traders push token toward key resistance.
- Technical indicators reveal strong bullish momentum across Firo’s daily chart.
- RSI nears overbought zone, signaling sustained market optimism for Firo.
Firo (FIRO) has seen renewed market activity as the cryptocurrency climbed over 5% in the latest daily session. The token traded around $1.97 at press time, signaling increased bullish sentiment among traders.
The chart data indicates that Firo opened the session at $1.87, reaching an intraday high of $2.10 before retracing slightly. This movement highlights sustained demand, with buyers maintaining control after several days of gradual accumulation.
Moreover, the daily Bollinger Bands show a noticeable expansion, a technical sign often linked to rising volatility and stronger market participation. The current upper band stands near $1.92, while the lower band remains close to $1.47, suggesting ample room for price movement if momentum continues.
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Technical Indicators Signal Strength in Uptrend
The 20-day simple moving average currently trends near $1.92, offering a supportive zone for short-term traders. Meanwhile, the 50-day moving average rests around $1.47, reflecting a longer-term bullish crossover pattern as the market recovers from earlier lows.
Additionally, the Relative Strength Index (RSI) sits at 65.28, just below the overbought threshold. This reading indicates that buyers remain active, though the market could experience brief pauses as traders take profits. However, the RSI staying above 60 reinforces ongoing optimism in Firo’s short-term outlook.
Source: Tradingview
Significantly, the consistent series of green candles observed over recent sessions points to sustained accumulation from market participants. The price remains well above the midline of the Bollinger Band, further validating upward momentum in the current trend.
Furthermore, the strong trading volume accompanying the latest move adds weight to the ongoing rally. Market watchers consider this a healthy sign, reflecting organic interest rather than speculative surges.
In the near term, traders will be monitoring whether Firo can sustain its position above the $1.95–$2.00 range, which has acted as a resistance level. A decisive close above this point may strengthen buying confidence, potentially paving the way for further advances if overall sentiment in the crypto market remains supportive.
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