The 50-week EMA Has Offered Support
The 50-week EMA has offered support. It is a market that had, until recently, been in a massive uptrend. So at this point, it looks like we are trying to recapture some of that momentum.
The $4,500 level just above seems to be the next target or possible resistance barrier, depending on how we look at it. The 50-week EMA, right around the $4,300 level, has offered support so far, and that is an area I would be watching for potential support or a breakdown below it.