- YGG is trading at $0.05073 with a 16.6% increase with a resistance of $0.0513 and 24-day high of $0.0522.
- The strong support is at $0.04352, and the recent support at $0.0327 on the weekly chart is a significant structural low.
- The long-term range projection is $0.20-$0.30 though price will have to achieve a breakout beyond the near-term resistance levels to reach this.
The short-term recovery of Yield Guild Games continued because the price moved towards the range of $0.05 with a 16% increase bringing its value at $0.04856 in the last 24 hours. The past chart pricing showed that the price was approximately $0.0491, which was rising by 11.09 percent at that point. It should be mentioned that the maximum was at $0.0522 and the minimum was at $0.0433. This move positions the market between the previously known support of $0.04352 and resistance of $0.0513.
Price Structure and Recent Momentum
The weekly chart indicates a long-lasting downward trend that ends with price coming close to $0.0327. Since then, the candles have made higher closes towards the $0.04- 0.05 zone. This led to buyers intervening towards the bottom and taking price up to range resistance. The chart also shows a prior spike of $0.2695 which is a far off historical allusion.
In addition, the volume was 192.23 million YGG in 24 hours. USDT volume stood at 9.14 million. The recent improvement was accompanied by higher turnover, which favors the short-term recovery. But now the price is very close to the point of resistance of $0.0513, which has limited the potential to go higher.
Key Levels and Technical Zones
The last 24-hour low is close to the support of $0.04352, which is firm. Unless price goes further away, traders will be observing new demand. In the meantime, the recent intraday high of about 0.0522 corresponds to the resistance of 0.0513.
The larger chart indicates that there can be a reversal zone of between $0.04 and 0.05. Price is currently trading within that band. Thus, this area determines the cornerstone of the short-term orientation. The immediate trend of breaking above 0.0522 would open up into higher levels of retraces.
In the long-run, the chart shows that the progress will be towards $0.20 to $0.30. The path is a steep uphill curve that is traced on the base. Price however has to pull through intermediate resistance levels.
Short-Term Outlook and Scenarios
On a bullish side, the price will be above the level of $0.05 and will break above 0.0522. This may take gains up to $0.055 and above intraday. The further growth of volumes would strengthen such progress.
On the other hand, a reaction at a bearish of 0.0513 may drive the price back to 0.045. In case of heightened pressure by the sellers, price can retest the support of price at $0.04352. The break lower than that would then shift the attention to the previous low of $0.0327.
Yield Guild Games has been trading within this specified range because traders are tracking reaction at resistance and support.
