📉 $B2 /USDT Analysis: Searching for a Bottom?
The$B2 2/USDT perpetual chart is currently showing a strong bearish trend on the 1H timeframe. Here’s the breakdown of what the indicators are telling us:
Price Action: We've seen a consistent series of lower highs and lower lows. The price is currently hovering near its 24h low of 0.8221.
Moving Averages (MA): The price is trading well below the MA(7), MA(25), and MA(99). The MA(7) (yellow line) is acting as immediate dynamic resistance.
Volume: We saw a spike in selling volume during the recent drops, though it's beginning to thin out slightly at these lower levels—a sign that the aggressive selling might be cooling off temporarily.
Bearish: If the support at 0.8220 fails to hold, we could see a quick slide toward the next psychological level of 0.8000.
Bullish Recovery: A break above the MA(7) (~0.8354) is the first step for bulls. A true trend reversal would require a flip of the 0.8550 resistance (MA 99) into support.
Note: The market sentiment is currently heavy. Keep a close eye on the 0.8221 level; if buyers don't step in here, the downtrend likely continues.
What’s your move? Are you catching the falling knife or waiting for a confirmed reversal? 👇
Trade $B2 here.👇
#B2 #cryptotrading #TechnicalAnalysis #BinanceSquare #TradingSignals