1. Current price:
Currently trading at 96,584.5 USDT with a daily increase of about +2.21%.
2. Moving averages:
MA(7) = 95,340.2 (This means that the price is now above the short average, indicating bullish momentum in the short term).
MA(25) = 95,197.8 (The price is also above the medium average, an additional positive signal).
MA(99) = 93,956.9 (The price is still much higher, supporting the overall bullish trend currently).
3. RSI indicator:
RSI(6) = 71.4 (Approaching the overbought area, indicating a possibility of minor correction or slowdown in the rise).
RSI(14) = 60.4 (Still in the strength zone, but has not reached saturation yet).
4. MACD indicator:
DIF = 127.1 and DEA = -142.2, and the difference (MACD) is positive at 269.3, which clearly supports the bullish momentum.
5. Recent candles:
There was a strong bullish candle reaching 97,700 USDT as the highest level in 24 hours, followed by a candle with a slight decline, indicating the beginning of resistance near this price.
Current support and resistance points:
First resistance: 97,700 (Highest peak recorded by the price).
First support: 95,415 (Close to MA(25) average).
Strongest support: 93,327 (Lowest low in 24 hours, a significant support level in the short term).
Summary:
The trend is currently bullish in the short and medium term.
However, the RSI indicator warns of the proximity to entering the overbought area, so we might see sideways movement or slight correction before any further rise.
If the price breaks the level of 97,700 firmly, we could see an extension of the rise towards 98,500 or even 100,000 in the near term.
If the breakout fails, the price may return to test 95,400 - 94,100 as support.