Analysis of currency $1000SATS Hourly Frame/
Current price: 0.0000528
Today's high reached: 0.0000590
Indicators:
The moving averages MA(7), MA(25), and MA(99) are all below the price => Upward trend.
Relative Strength Index RSI(6): at 82 => Overbought (a correction might happen soon).
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Quick technical analysis:
The price broke important resistances today with strong momentum.
Liquidity is high (strong trading volume), supporting the rise.
RSI is very high => Beware of a possible correction.
MA(7) and MA(25) indicate the continuation of the upward trend currently.
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Upcoming targets (if the rise continues):
1. First target: 0.0000590 (today's highest peak - very important resistance)
2. Second target: 0.0000650 (approximate Fibonacci extension based on recent movement)
3. Third target: 0.0000720 (psychological level and distant target)
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Important support areas:
First support: 0.0000500
Second support: 0.0000465
Strong third support: 0.0000415
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Current advice:
As long as the price is above 0.0000500, the situation is relatively safe.
If it breaks 0.0000465 downwards, we might enter a deeper correction wave.
The RSI indicator is high, so be prepared to take partial profits or monitor for reversal candles if they appear.
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Quick summary:
> The asset is in a strong upward state, but the RSI indicator warns of a potential correction soon. Set gradual sell targets and do not enter a buy now except with extreme caution.
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