BTCUSDT pair based on the chart:
1. Current trend:
The price is trading around $94,471.5.
There is clear bearish pressure in the previous candles, but we have started to see some small green candles indicating an attempt to rebound or consolidate around the nearby support (93,445.1).
2. Moving averages:
The price is currently trading below MA25 (95,498.5), which means the short-term trend is still relatively bearish.
The price is close to MA7 (94,327.2), which may indicate a struggle between buyers and sellers currently at these levels.
MA99 (93,300.2) is below the current price and could serve as an important moving support if the price continues to hold.
3. RSI Indicator (buying and selling strength):
RSI(14) at 44.6, which means the market is not in overbought or oversold territory, but it leans slightly towards weakness, indicating a possibility of continued sideways volatility or a slight correction before taking a clear direction.
4. MACD Indicator:
The MACD value is negative (-111.9), and the separation between DIF and DEA is clearly negative, indicating that momentum is still negative, but it has started to shrink slightly, which could be an early signal of a slowdown in the downward trend.
5. Price action:
The lowest recorded price recently is $93,445.1, and if this support is broken, it may head towards testing MA99 at 93,300.
If the rebound continues, the first resistance will be at the MA25 level (95,498.5).
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Current technical summary:
The market is in a neutral zone leaning towards negativity, with early attempts at a rebound.
Positive scenario: Staying above 94,327 (MA7) with a clear breakout above 95,165 (the 24-hour high) will enhance the likelihood of a return to 96,600-97,800.
Negative scenario: Breaking below 93,445 may open the way to test 93,300 then 92,346 as the next major support.