📉 Current price: 1.383 USDT
A decrease of -1.91% in the last 24 hours.
🔴📊 Short-term technical analysis:
1. General trend: The price has been in a downward trend for a while, gradually declining from the historical peak of 22.581 to levels below 2 dollars.
The price previously reached a local bottom at 0.927 and then rose slightly.
The trend is currently sideways/downward with attempts to stay above the 1.38 level.
2. Technical indicators:
✅ Relative Strength Index RSI:
RSI(6) = 36.816 → close to the oversold area.
RSI(14) = 42.598
RSI(24) = 44.601
This indicates that negative momentum has begun to slow down, and we may see a short-term rebound if the current support is maintained.
✅ Moving averages:
MA(5) > MA(10) in the recent candles.
The crossing of the averages in this way may indicate the beginning of a slight rebound or an upward sideways movement, but confirmation requires a clear resistance break.
3. Volume:
There is noticeable activity in volume, with an increase in the recent candle sizes.
If this high volume continues with green candles, it may be a positive sign of buying pressure.
📌 Support and resistance levels:
Strong support: 1.36 then 1.30 then the previous bottom at 0.927.
First resistance: 1.43 (highest price in 24 hours).
Second resistance: 1.60 then 1.90.
🧭 Short-term forecast:
Positive scenario: If the price holds above 1.36 and rises above 1.43 with strong trading volume, we may see movement towards 1.60 – 1.90.
Negative scenario: A break below 1.36 with a daily candle close may bring the price back towards 1.30 or even the previous bottom at 0.927.
✅ Recommendation (not investment advice):
Short-term speculation: Watch for a break above 1.43 to enter, provided there is strong trading volume.
Stop loss: Below 1.36 or 1.30 depending on your risk tolerance.
Safe entry: Wait for confirmation of a positive RSI crossover with a resistance break.
Don't forget 👍👍👍👍👍👍