#looksRare Technical Analysis of LOOKS/USDT

1. Price and Trend

- Current price: $0.05311.

- Long-term downtrend with peaks around $0.25 and $0.15.

- Recent stabilization around the $0.05 level.

2. RSI (Relative Strength Index)

- Current RSI: 49.64, indicating a neutral state (neither overbought nor oversold).

- Recent rise from around 30, suggesting a potential trend reversal.

3. Support and Resistance

- Support levels: $0.05.

- Resistance levels: $0.10 and $0.15.

Conclusion

The current price has stabilized after a long-term decline, and the rising RSI may indicate a potential upward trend. However, additional signals, such as increased trading volume and a breakout above resistance levels, are needed to confirm a trend reversal.