Technical Analysis:
1. General Trend:
The price has been in a clear downward trend since it peaked at 0.00000981
Moving Averages (MA):
MA(7) = 0.00000817 (slightly below the current price)
MA(25) = 0.00000856
MA(99) = 0.00000848
The arrangement of the moving averages indicates ongoing selling pressure.
2. Relative Strength Index (RSI):
RSI(6) = 25.08
RSI(12) = 31.53
RSI(24) = 39.64
All RSI readings indicate that the market is in an oversold area, which may suggest an imminent rebound (upward correction), but this is not guaranteed without confirmation.
3. Volume Indicator:
There is a gradual decrease in trading volume, indicating a lack of interest from buyers currently or their hesitation.
4. Support and Resistance:
Current support around 0.00000799 and 0.00000759
Nearby resistance at 0.00000856 (MA25) and approximately 0.00000881
Conclusion:
The current trend is downward.
RSI indicators suggest oversold conditions, but there are no strong signals yet for a reversal.
It is preferable to wait for a reversal candle or a fake breakout as an entry signal.
If you are considering entering, do so with strict risk management and a clear stop loss below the nearest support.
