#CryptoTrading.
šTechnical Analysis ( 1 hour ) $HEI /USDT
1. Price and Trend:
ā¢ Current price: 0.5249 USDT, down 11.13%.
ā¢ The chart shows a recent decline after an attempt to rise, which may indicate a trend reversal or correction.
2. Moving Averages (MA):
ā¢ MA(5): 9,234,840.700 and MA(10): 6,460,954.500. The short-term MA is above the long-term one, which previously indicated a bullish trend, but the price has now fallen below, which may signal a change to a bearish trend.
3. Bollinger Bands (20, 2):
ā¢ The price has approached the lower limit (0.5094), which may indicate oversold conditions. If the price bounces, this may be a signal to buy.
4. MACD:
ā¢ DIF: -0.0043, DEA: 0.0118, MACD: -0.0161. MACD is below the zero line and shows a negative gap, confirming the bearish momentum.
5. Stochastic RSI:
ā¢ STOCHRSI: 3.2624, MASTOCHRSI: 2.0713. Both indicators are low, which also indicates oversold, but without a clear signal for a reversal.
6. Volume:
ā¢ There is a significant increase in volume during the price drop, which may indicate strong selling pressure.
ā ļøConclusion: The market currently looks oversold, but the bearish trend dominates. It is recommended to watch for a breakout of the upper Bollinger Bands or confirmation of a reversal via MACD and Stochastic RSI. Support may be at 0.4040, resistance around 0.6483.