Brief Analysis of the #TREE Trend

Current Price: The current price of TREE is 0.3230 USDT, which is a decline of about 1.91% from the previous day.

Trend Line: The chart shows that the medium to long-term trend lines (purple and yellow lines) are overall in a downward trend, with recent prices breaking below the moving average support.

Short-term Fluctuation: Around August 18, there was a surge in price with increased trading volume, but it quickly retreated, indicating strong selling pressure.

Trading Volume: The trading volume increased during the recent rise, but did not significantly expand during the retreat, suggesting a potential lack of sustained buying support in the market.

Technical Indicators: MA7 (7-day moving average) and MA29 (29-day moving average) indicate that the price is currently below the moving averages, showing a weak short-term trend. The RSI (Relative Strength Index) does not show a specific value, but from the fluctuations, it may be nearing the oversold area in the short term.

Support and Resistance: The recent low of approximately 0.32 USDT is an important support level, with resistance possibly in the range of 0.34-0.35 USDT.

Summary: The current TREE/USDT trend is weak, and it may continue to test the 0.32 USDT support level in the short term. It is advisable to pay attention to the performance at this support level. @Treehouse Official #Treehouse