Quick Summary:
Current price: $2942.7
Lowest price in 24 hours: $2903.85
Short-term trend: Attempting to rebound after a drop.
Next psychological target: Returning to $3000 is possible but needs confirmation.
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🔍 Technical Analysis in Detail:
1. Candles and Price:
Green candles appeared consecutively after reaching the bottom at $2903.85 → Indicate a potential rebound.
The price is now trying to break through the 7 and 25 averages (MA7 and MA25), which is the first resistance.
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2. Moving Averages (MA):
MA(7) = 2933.7 (Broken upward)
MA(25) = 2957.2 (Strong resistance nearby)
MA(99) = 2825.6 (Far, strong support)
🔹 Price is between MA25 and MA7, and if MA25 breaks upward firmly, an increase to $3000 is likely.
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3. Parabolic SAR Indicator:
Yellow points above the candles → Indicate that the trend is still temporarily downward.
But the candles are close to touching the points, and if broken upward → the trend shifts to upward.
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4. Momentum Indicators:
▪ Stoch RSI Indicator:
K = 41.8, D = 40.9 → Midway and starting to rise.
Positive signal but not very strong yet.
▪ MACD Indicator:
Slight upward arc, and the crossover is near zero.
Signal for a potential upward trend change if momentum holds.
▪ OBV (Buying/Selling Volume):
Started rising again → Evidence that liquidity has begun to enter.
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📈 Forecast:
If the price stays above MA7 and MA25 and holds above $2957, it is likely to return to $3000 within the next few hours.
But:
If it fails to hold above $2957 and starts to drop again towards $2900 → possibility of returning to decline.
