1. Current Situation – Price and Daily Movement
The price is trading today between $0.8287 and $0.8650, closing at $0.8650, recording an increase of about +2.45% over the last 24 hours.
Over the week, the currency has still suffered a decline of about -15%.
2. Short-term Technical Indicators (Daily Frame)
Overall Technical Assessment: "Strong Sell", with:
15 sell signals,
9 Neutral,
1 Buy Only.
Momentum Indicators (Oscillators):
RSI at 29.24 – in the neutral/near oversold area.
Negative MACD,
The majority of other indicators are neutral.
Moving Averages (MA): All are indicating strong sell on the daily level, and there is not a single average indicating buy.
Pivot Points:
Strong support around $0.8067 (S1),
Initial resistance at $0.8857 (R1), with more above it at $0.9362 (R2).
3. Forecasting Medium-term Trends
CoinMarketCap AI Analysis:
The price has collapsed by about -5.6% over 24 hours, reflecting clear technical weakness.
The price has broken key support levels such as the 7- and 30-day SMA ($0.958 and $1.09) – reflecting increasing selling pressure.
RSI-7 around 30.29 – in the oversold area.
Trades have decreased by -17.9%, indicating weakness in buying momentum.
A continuous break below the $0.857 support may lead to a slide towards the psychological level of $0.80, while recovering $0.91 may provide a pivot point.
4. Short-term Outlook – According to CoinCodex
Predictive analysis indicates a negative scenario:
Expect price to drop to $0.632 within a month (about -25% decline).
Overall Sentiment: Pessimistic (Fear & Greed Index at 44), reinforcing the selling bias.
Technical Analysis Summary – Quick Table
Category Details
Current Price $0.8650 (+2.45% over 24 hours) – Daily range between $0.8287–$0.8650.
Technical Signals Daily Assessment: Strong Sell (indicators, MACD, all are negative)
Support and Resistance Nearby support at $0.8067; resistance at $0.8857 then $0.9362.
Weekly Trend Break of support around $0.91 – Continued selling pressure – RSI indicates oversold conditions.
Monthly Forecast Expect a drop towards $0.63 (-25%) according to CoinCodex – Market sentiment is pessimistic.
Technical Tips
For short-term traders:
Wait to see if the price manages to hold above support at $0.857 to target resistance at $0.885–$0.89.
A break below $0.828 may open the way for a slide towards $0.80.
For medium-term investors:
Current momentum weakness and oversold condition may create a buying opportunity at $0.80–$0.82, if reversal signals are available.
However, you will need to recover above $0.91 to confirm the continuation of the upward trend.
For those who prefer caution:
Avoid buying in this overall selling trend, and wait for clear positivity in moving averages or signs of liquidity re-entering.
The price shows a continuous decline with strong technical signals toward selling. Trading momentum is weak, and all moving averages are pointing toward selling pressure. Despite some minor rebound today, the overall picture remains negative. Main support around $0.8067; a break could lead to further declines.