Back to collectionA Test of the Range’s Upper Half
In early May, XAI was still moving within USD 0.009–0.013. The quote reached USD 0.0115, putting it in the range’s upper half. The move added a little suspense to otherwise dull trading and made it easier for the community to project its hopes onto the chart.
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In early May, XAI was still moving within USD 0.009–0.013. April’s positive monthly close had drawn some eyes back to the price. As the narrator recorded the day’s movement, the question was how far an upward test remained from a genuine exit from that range.
The quote reached USD 0.0115, putting it in the range’s upper half. Someone in the group wanted to call it a turning point. The narrator recorded it only as a test: the price was higher than at the start of May, but still inside the existing range. Whether it could hold there remained an open question; no breakout had yet happened.
The move added a little suspense to otherwise dull trading and made it easier for the community to project its hopes onto the chart. The narrator decided to keep noting the price’s position and the response day by day. Today’s observable change was a move into the upper half of the range; its upper edge had not been cleared.