Palantir Price Predicted to Pull Back Before Next Leg Higher

Palantir's price is currently trading at $179.60 with an RSI of 70.21, indicating it may be overbought.

The MACD momentum has flatlined, and the trend is not strong, suggesting a potential pullback to the demand zone between $168, $174.

However, if Palantir breaks through the resistance at $183.88 with volume behind it, the 65% short positioning could trigger a short squeeze, pushing the price up to the convergence zone of $187, $188.

The smart money on Binance is positioned 34.5% long and 65.5% short, indicating they do not believe this rally is sustainable without a catalyst.