#CryptoTrading.
đTechnical Analysis (1 hour) $NMR /USDT
1. Price and Trend: The current price is 17.809, down -12.68% from the previous level. The chart shows a recent decline after an attempt to rise, indicating a possible correction or trend change. The 5-day (710,393,719) and 10-day (827,986,800) moving averages are showing a downward movement, supporting the bearish trend in the short term.
2. Bollinger Bands (20, 2): The price has approached the lower limit (15.767), which may indicate oversold conditions. However, the lack of a sharp rebound may signal further declines.
3. MACD: DIF (-0.526) and DEA (-0.373) are below the zero line, while MACD (-0.154) is also negative. This confirms bearish momentum, although the difference between the lines is decreasing, which may indicate a possible reversal formation.
4. Stochastic RSI: The values ââof 5.888 (slow) and 2.833 (fast) are in the oversold zone (<20), which may signal a potential rebound if confirmed by volume.
5. Volume: Trading volume (150,467,700) has decreased compared to previous peaks, which may indicate a decrease in interest in the asset. The weighted average volumes (MA5 and MA10) are also showing a decline.
6. Open Interest (OI): Open positions (1.72 million) have decreased from the previous high (30.4 million), which may indicate the closing of positions and a decrease in speculative activity.
â ď¸Conclusion: The market currently looks bearish with signs of oversold. A temporary rebound to the resistance level (18.719â21.670 according to Bollinger Bands) is possible, but without increasing volume and confirmation of the trend, the risk of further decline to 15.767 or below remains. It is recommended to monitor volume changes and support/resistance levels.