🕐 Timeframe: 1 hour (1H)
- In this timeframe, we observe that the price is moving above the short-term moving averages (EMA7 and EMA25), indicating the continuation of upward momentum in the short term. 🚀🚀🤑.
🔴 The price has broken above the 0.08 area which was resistance and has turned into support. The Relative Strength Index (RSI) indicates overbought conditions, suggesting a slight correction may occur.
🔴 ⚠️ If the price returns to test 0.078 - 0.080 and holds above it, it is considered a good entry opportunity. However, if it breaks below 0.073, it indicates a temporary weakness in the upward trend.
🕓 Timeframe: 4 hours (4H)
🔴 We are witnessing a strong rebound from the bottom of 0.02 to the current price. The apparent pattern is a reversal bottom in the shape of a 'V', which is a strong bullish signal. The crossover of moving averages supports the continuation of the rise, especially if the 0.095 level is consistently broken. In this case, targeting levels of 0.10 then 0.12 is likely within the next day or two. However, if it fails to break 0.095, it may return to test support areas between 0.073 and 0.078.
📅 Timeframe: Daily (1D)
🔴 On the daily timeframe, the overall trend remains historically bearish, but the recent upward movement could signal the beginning of a new bullish reversal. If the price manages to close above 0.10, it will confirm the start of a long-term upward trend. 🎯 The next target will be near 0.134 then 0.158, 🤑🤑 which are levels seen at yesterday's peak. Strong support currently lies between 0.062 and 0.073. An investor aiming for medium-term profit can gradually buy at any correction to those areas while monitoring the daily close.
🔚 Technical Summary:
🔴 The currency has entered a strong but short-term upward wave, with the possibility of slight corrections due to indicator overbought conditions.
🎯 Any correction towards 0.078 - 0.073 can be considered an entry opportunity provided that 0.073 is not broken with a clear close.
🎯 If the price breaks above 0.095, we may witness a second wave of upward movement towards 0.10 then 0.13. 🚀🚀🚀🤑🤑 Attention should be paid to trading volume and overbought conditions in RSI indicators before making any quick decisions.