Technical analysis of the currency:
1. Bollinger Bands:
The upper and lower lines represent the expected trading range. We can see that the price is currently approaching the upper border of the Bollinger Band, indicating that the market may be overbought.
This is an indication of a possible downward correction in the near term.
2. Relative Strength Index (RSI):
The RSI value is around 72, which is above 70, which means that the currency is in an overbought zone. In this case, a slight decline or correction downward can be expected.
3. Candlestick Patterns:
Consecutive green candles indicate a strong uptrend, but the presence of some long-tailed candles indicates price volatility and a possible correction.
4. Possible targets:
Resistance: The $0.008615 level is a nearby resistance level, and if broken, the uptrend could continue towards the $0.0088 level.
Support: The first important support level could be at $0.008161. If the correction continues, the price could reach $0.007636, which is close to the lower Bollinger Band.
Recommendation:
If you own the currency, it may be best to watch for a potential correction, and sell at resistance levels to avoid losses.
If you are thinking of buying, you can wait until the price approaches support levels to take advantage of the opportunity to enter at a lower price.
