$AGLD 🔥🔥

AGLD/USDT Analysis

The attached chart shows us that the currency $AGLD


is currently trading at a level of $0.926 after a decline of -10.44% over the past 24 hours, with a noticeable technical pattern forming on the 6-hour timeframe:

Key technical points:

Uptrend: We observe the formation of a sloping support line from the previous low at $0.601 through several touches, and it seems that the price is currently testing this line strongly, making it a crucial support for the next phase.

EMA(99) Moving Average: The price is still trading above the average, indicating that the market is maintaining relatively bullish momentum despite the current correction.

Relative Strength Index (RSI) (6): It registers a low reading of 27.94, indicating that the currency has entered an oversold area, which may signal a near-term reversal if the support holds.

Stochastic RSI: It shows a potential crossover in the lower regions, reinforcing the technical rebound scenario in the short term.

Possible scenarios:

Positive scenario: If the price holds above the upward support line ($0.90 - $0.88), we may witness a rebound targeting the psychological resistance at $1.00 then $1.10.
We may see further targets if strong bullish momentum is available.
Negative scenario: A clear break of the trend line will return the price to test the next strong support near $0.78

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