$RED 📉📉📉📉
Trend Analysis (Based on Moving Averages & Candlesticks
The 7-period moving average (MA) is below the 25-period MA, confirming a short-term downtrend.
The 99-period MA is acting as a key support level.
The recent price rejection at resistance ($0.6650) suggests that sellers are still in control.
Support & Resistance Levels
Key Resistance: $0.6050 - $0.6650 (If price breaks above, we could see bullish momentum).
Key Support: $0.5665 - $0.5500 (If price breaks below, it could fall further).
Market Sentiment & Volume
The recent high selling volume suggests bearish pressure.
If volume remains high, we could see further decline before a potential bounce.
12-Hour Prediction Scenarios
📉 Bearish Case (Higher Probability)💯
If price stays below $0.6050, it may drop to $0.5500 or lower.
If the selling pressure continues, it could even hit $0.5200.⏬
Bullish Case (Less Likely, but Possible)
If price breaks $0.6050 with strong volume, it could test $0.6350 - $0.6650.
A breakout above $0.6650 could push it toward $0.7000.
Conclusion
Short-term trend: Bearish unless a strong reversal happens.
Key zone to watch: $0.5665 - $0.5500 (If it holds, a bounce could happen).
If price breaks below $0.5500, expect more downside in the next 12 hours.