#CryptoTrading. #Signalš„.
šTechnical analysis (1 hour) $IDOL /USDT
1. Price dynamics and candlestick chart:
ā¢ The price shows an upward movement to the level of ~0.01874, after which there is a correction to ~0.01686.
ā¢ The candles indicate high volatility by forming bullish (blue) and bearish (red) candles.
2. Bollinger Bands (20, 2):
ā¢ The price is approaching the lower limit (DN: 0.01673), which may signal a possible rebound or continuation of the fall if this level is broken.
3. Volumes (Volume):
ā¢ Volumes increase during the upward movement (up to 3.785 million), but decrease on the correction, which may indicate a weakening of selling pressure.
4. MACD:
ā¢ DIF (-0.00005) and DEA (0.00002) are close to the zero line, while MACD (-0.00006) is negative. This may indicate a neutral or weak bearish trend.
5. Stochastic RSI:
ā¢ %K (9.18093) and %D (9.12671) are low, indicating that the price is in the oversold zone. This may be a signal for a one-off bounce.
6. OI (Open Interest):
ā¢ OI has increased from 1.57 million to 2.66 million, which may indicate an increase in traders' interest, possibly due to expectations of price action.
ā ļøConclusion: The chart shows a correction after a local high with signs of oversold (Stochastic RSI). A bounce from the lower Bollinger band or a breakout of the 0.01673 level downwards is possible. It is recommended to watch for volumes and equal support/resistance.
