Technical Analysis
Overview: On August 19, the price $BMT dropped below the 30-day moving average ($0.079), accelerating the decline. Key indicators:
- RSI (7 days): 36.45 (approaching oversold territory)
- MACD: -0.00024 (bearish crossover)
- Pivot Point: $0.0715 (support did not hold)
What this means: The breakout of support at $0.0715 turned it into resistance, attracting short-term sellers and strengthening the downtrend. Despite the RSI approaching oversold territory, a 13% decrease in trading volume over 24 hours indicates weak buyer interest.
What to watch for: A close above $0.073 (the minimum on August 21) may signal a potential reversal.