#CryptoTrading.
šTechnical Analysis (1 hour) $VELVET /USDT
1. Price and Trend:
ā¢ Current price: 0.08942 USDT, up +93.17% over the period.
ā¢ The chart shows a strong uptrend with a sharp increase, which increased the high volatility and possible euphoria in the market.
2. Moving Averages (MAs):
ā¢ MA(5): 314,893,799 and MA(10): 267,776,033 (volumes) - short-term average volumes are increasing, which supports the upward movement.
ā¢ On the price chart, the moving averages (in particular, the 20-day) also show an uptrend, the price is above the average, which is a bullish signal.
3. Bollinger Bands (20, 2):
ā¢ UP: 0.11128, MB: 0.07522, DN: 0.03916.
ā¢ The price is approaching the upper limit (0.11128), which may indicate overbought conditions. A corrective decline is possible if the price does not break this level.
4. MACD:
ā¢ DIF: 0.01175, DEA: 0.01074, MACD: 0.00102.
ā¢ The positive value of MACD and the growth of DIF above DEA confirm the upward momentum, but the difference is small, which may signal a weakening of the momentum.
5. Stochastic RSI:
ā¢ STOCHRSI: 66.96781, MASTOCHRSI: 76.24274.
ā¢ Both indicators are high, approaching the overbought zone (>80), which can warn of a possible correction.
6. Volumes:
ā¢ Volatility of volumes (70,236,409) is growing along with the price, which supports the trend, but a sharp increase may indicate a speculative movement.
ā ļøConclusion: The current trend is bullish with strong growth, but indicators (Bollinger Bands, Stochastic RSI) hint at overbought conditions. It is recommended to monitor the breakdowns of the upper limit of the Bollinger Bands or MACD reversal signals. A correction is possible in the near future. For an accurate analysis, it is worth additionally checking support/resistance and volumes on lower timeframes.
