✅ General situation (clearly bearish)
Despite the temporary halt in the decline, all indicators still point to weakness in buying and continued selling pressure.
🟠 Technical indicators in detail:
1. Current price: 1.8417
After a sharp drop from the peak of 3.7133, the price is ranging between 1.71 and 1.85.
No clear breakout candles yet.
2. Bollinger Bands:
Price is moving below the middle average (MB = 2.5491).
Still close to the lower limit (DN = 0.9461), meaning the price remains in the lower zone.
No positive divergences so far.
3. RSI (6) = 26.7
Still in the oversold area (<30).
A temporary rebound may occur, but it has not been confirmed yet.
4. MACD:
All values are negative:
DIF = -0.3558
DEA = -0.2909
MACD = -0.0650
No positive intersections currently. Selling momentum is still ongoing, but with less intensity.
5. Trading volume:
Volume has started to decline after the peak during the drop.
This indicates a decline in momentum, but without clear entry from buyers.
🧭 Effective support and resistance levels (on a 30-minute timeframe)
Level type Price Note
Resistance 1.90 Local resistance – current ceiling
Resistance 2.15 Medium resistance – closing the gap
Support 1.71 Strong local support – correction bottom
Support 1.63 Potential support based on lower shadows
Major support 1.50 if it breaks 1.70
📌 Summary and recommendation (on a 30-minute timeframe):
✅ Current trend: Bearish
⚠️ Slight rebound possibility: Yes, but not confirmed yet (low RSI + negative MACD)
🔻 If you are in a sell trade (Short):
Watch for a break at 1.71; if it breaks with a 30-minute candle, target 1.63 then 1.50.
Technical stop loss = above 1.90 (above current volatility candles)
🔺 If you are considering buying:
Buying is not recommended now, unless:
Price broke 1.90 with a confirmation candle (with strong volume)
Or strong reversal candles have appeared (like Hammer or Engulfing).
