Moonveil/USDT
Analysis $MORE
๐ Key Observations:
Rising Wedge Pattern: Price was climbing in a narrowing range (ascending support + descending resistance), typically a bearish pattern.
Breakdown: Price broke below the ascending support line and is now trending downward.
Support Levels: The price is currently at 0.02061, near its intraday low.
Resistance: The breakdown level (~0.02221) may now act as resistance.
200 EMA: Price is below the 200 EMA, signaling bearish momentum.
RSI (10, close): At 37.46, approaching oversold territory (<30), suggesting possible short-term relief or bounce โ but trend remains weak.
๐ Conclusion:
Short-term trend is bearish after a wedge breakdown. Watch for support around 0.02000 and possible RSI-based bounce, but selling pressure dominates for now unless price reclaims 0.02221.