Snakes

#snakes

📊 Technical Analysis of SNAKES (8h interval)

🔹 1. RSI (momentum)
• Both RSIs (6 and 12) are significantly below 30, suggesting extreme overselling.
• Potential reversal point, but no guarantees – dependent on volume and averages.

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🔹 2. Moving Averages MA5 vs MA10
Indicator Value
MA5 1.39M
MA10 1.17M
• MA5 > MA10 → short-term average crosses below long-term average ➜ bullish signal (so-called “bullish crossover”).
• This golden cross often heralds the beginning of a rebound, especially with an oversold RSI.

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🔹 3. Volume = 555.7k
• Although lower than MA5 and MA10, there is still circulation – volume is not zero.
• If the next 1–2 candles show increasing volume + confirmation with a candle, we can speak of the beginning of a short-term rebound.

🟢 Conclusions

Signal Value/Trend Meaning
RSI < 20 Strong overselling – possible rebound opportunity
MA5 > MA10 Bullish crossover Potential trend change to upward
Volume Moderate Confirmation needed for further increase

📌 Technical signal: Early phase of a potential rebound
• Technical indicators together suggest: the market may be preparing for a short-term correction.
• Confirmation needed: e.g. bullish candle + increasing volume in the next 8h session.

#snakes

📈 What can be seen on the chart:

1. Strong upward rally
• The price increased from about $0.052 to $0.113 – which is over 100% in a few hours.
• The bullish candles are long and dynamic, suggesting a strong buying impulse.

2. Local peak and supply reaction
• Around $0.113, a strong bearish candle appeared with a long wick at the top – this is a signal that sellers have become active.
• After the peak, there was consolidation / sideways correction.

3. MA7 crossed MA50 (bullish signal), but…
• The short average (MA7 – orange) crossed above MA50 (blue) – this is a positive trend signal.
• However, the price is returning below MA7, and MA7 is starting to curl – so the impulse is weakening.

4. MA100 (purple) is far above the price
• MA100 indicates that in a broader perspective (medium-term) we are still in a bearish zone, despite the local rally.

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🧠 Technical assessment (at this moment):

Element Assessment
Short-term trend Bullish, but weakening
Momentum Weakened after the breakout
Volume Low at the end, does not support continuation
Formation Possible flag/consolidation after the breakout

🔍 What could happen:
• If the price holds above $0.087 (support from consolidation) and returns above MA7 → possible continuation of increases.
• If it breaks $0.113 with volume → further impulse may occur (e.g. to the zone of $0.124–$0.13).
• If it breaks below MA50 (~$0.0718) → it may return to levels before the breakout.

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🟡 Suggestion:

Currently, it looks like a cooling off after euphoria. Watch the price reaction at:
• level $0.087 (local support),
• MA50 (blue line),
• and whether new volume appears with upward movement.

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