🔍 Current technical analysis:
1. General trend:
Price at 104,806.04 USDT.
The short-term trend is bearish after failing to maintain recent gains.
Moving averages:
MA(7) (yellow line) below MA(25) and MA(99), indicating weak buying momentum.
The price has also dropped below the averages, reinforcing the bearish signal.
2. Support and resistance levels:
Strong support: at 102,664 (previous low).
Nearby resistance: at 105,840 (previous day's high).
Any clear break below 102,664 may lead to a stronger decline.
3. RSI (Relative Strength Index):
The indicator is at 39.29, approaching the oversold area (<30).
This means there is selling pressure, but it hasn't reached saturation yet — there may be further decline but also a chance of rebound.
4. Trading volumes:
There is a decrease in trading volumes after strong upward candles, indicating weakness in the upward momentum.
Previous peaks were accompanied by high trading volumes, and the current decline is not matched with the same strength, which may indicate a correction rather than a strong collapse.
🔁 Possible scenarios:
📉 Bearish scenario (currently likely):
Broke 103,371 then 102,664 = Continuing the drop towards 101,500 or lower.
Supported by a negative crossover in the averages and declining RSI.
📈 Bullish scenario (in case of a rebound):
If support at 103,800 - 104,000 is maintained and the price rebounds with RSI > 40, it may return to test resistance at 105,800 – 106,000.
A clear breakout above 106,000 could change the trend to positive in the short term.
✅ Tips for speculation or short-term investment:
If you are not in the trade, it's better to wait until the price stabilizes above MA(25) or there is a strong rebound with high trading volume.
For short speculation: Watch the 102,700 – 103,000 area for short buying opportunities with strict stop-loss.
Do not buy now except after confirming the reversal.
