BEL/USDT market trend.
Current Price: 0.2470 USDT
Support:
* Immediate support appears to be around 0.2400 - 0.2420 USDT, where the price has found some footing recently.
* A stronger support level, if the current one breaks, would be around 0.2300 - 0.2320 USDT, near the MA(99) line and a previous consolidation area.
Resistance:
* Immediate resistance is at the recent high of 0.2619 USDT.
* Further resistance could be encountered around 0.2550 USDT, a previous peak.
Prediction:
BEL has seen a significant pump followed by a slight retrace. The price is currently holding above its short-term moving averages (MA(7) and MA(25)), which is a positive sign. However, it's also facing resistance from the recent peak.
Given the current setup, if BEL can hold above the 0.2400 - 0.2420 USDT support zone, we might see another attempt to break the 0.2619 USDT resistance. A successful breakout above this level could push the price higher.
Conversely, a breakdown below the 0.2400 USDT support could lead to a deeper correction towards the 0.2300 - 0.2320 USDT area. The trading volume has also decreased during this pullback, which could indicate a weakening of the bullish momentum if buyers don't step in soon.