🔍 Technical Indicators Analysis
1. Moving Averages (MA)
• MA(7): 0.04590 — slightly above current price
• MA(25): 0.04610 — acting as dynamic resistance
• MA(99): 0.04454 — currently acting as support
Interpretation:
The short-term moving average is curving downward and crossing below longer averages, indicating bearish pressure in the short term. However, the MA(99) is still slightly below price, which may offer temporary support.
2. Candlestick Pattern
• The last few candles are red with lower highs, forming a small downward channel after a peak at $0.04815.
• No strong reversal patterns are seen yet.
Interpretation:
This looks like a retracement phase after a short-lived rally. If it holds above $0.04450 (MA99), we could see a bounce. But if it breaks below, expect further decline.
3. Stochastic RSI
• STOCH RSI: 26.86
• MASTOCH RSI: 29.96
Interpretation:
These levels are close to the oversold zone (<20) but not quite there. This indicates weakening momentum, but not yet reversal-ready. Keep an eye for a bullish crossover below 20 for a potential buy signal.
4. Volume
• Volume has decreased significantly after the spike on June 13.
• Recent candles are small, suggesting low participation and uncertainty.
Interpretation:
Lack of strong volume means the price might continue to drift down or consolidate until a catalyst appears.
🧭 Key Support & Resistance Levels
• Immediate Support: $0.04450 (MA99)
• Stronger Support: $0.04123 (recent bottom wick)
• Immediate Resistance: $0.04610 (MA25)
• Major Resistance: $0.04815 (local top)
📈 What to Expect?
If support at $0.04450 holds:
• Expect consolidation or a small bounce toward $0.04610 or even retesting $0.04800.
• Watch for a bullish crossover on Stochastic RSI as a confirmation.
