Highest price in 24 hours: 1.2700 USD
Lowest price in 24 hours: 1.1905 USD
24-hour trading volume: 101.21M
Sideways price movement amidst fluctuations in momentum and downward leaning movements
June 4, 2025 | 9:50 AM
Currently trading at 1.2268 USD, showing a slight change of +0.57% over 24 hours, where the current movement shows a sideways pattern leaning downward after a temporary peak at 1.6574 USD. The price fluctuation between low and high levels reflects a loss of buying momentum and the presence of multiple resistances contributing to increased selling pressure.
• Analysis and Forecasts
The price is trying to hold above the secondary support at 1.1905, but it failed to build a new peak above 1.2700, indicating the strength of current resistance. Candles indicate weakness in momentum with a gradual divergence towards downward, and the volume shows more offers from sellers as clustering begins at certain levels. If the support at 1.2000 is broken firmly, we may witness a drop to 1.1500.
• Interaction with levels 1.2200 - 1.2250 may provide a short-term selling opportunity, as we need to monitor the actual break below 1.2000 to give a strong signal for downward movement.
Resistances:
1.2700 (strong previous peak that failed to break)
1.3000 (technical level not surpassed)
Supports:
1.2000 (current support with a possibility of breaking)
1.1500 (medium-term support)
Momentum is in a downward direction after failing to break resistance, and the price is trying to hold at support levels. With continued selling pressure, new low levels may be tested. Traders may find selling opportunities if 1.2000 is consistently broken, targeting 1.1500 in the near term.
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