$REI

Based on the REI/USDT chart on the 4-hour timeframe,

1. Price Trend and Bollinger Bands

General Trend: The current price is around 0.07497, indicating a movement in a correction phase after previously rising to a peak of 0.08974.

Bollinger Bands: The price is starting to approach the middle line of the Bollinger Bands (purple line), indicating the potential for consolidation or a limited decline to the next support area.

If the price falls below the lower line (around 0.06608), it could be a strong bearish signal. However, if the price stays at the middle or upper line, it could bounce back to the resistance area.

2. Trading Volume

The transaction volume is seen to have decreased compared to before. This indicates that buying interest is starting to decrease or the market is waiting for a clearer direction.

3. MACD (Moving Average Convergence Divergence)

The MACD histogram is currently in the positive area, but the MACD (yellow) and signal (red) lines are starting to approach the intersection point.

If a downward cross occurs, it could be an indication of a bearish reversal. However, if the MACD line moves away from the signal upward, the bullish momentum could continue.

4. Stochastic RSI

The Stochastic RSI shows previous overbought conditions and is currently moving down. This means that there is potential for further price declines in the short term.

If the indicator falls below level 20, then the area can be considered an oversold zone, where the price has the potential to rebound.

5. Support and Resistance

Nearest Support: 0.06608 (lower Bollinger Bands line).

Nearest Resistance: 0.07962 (upper Bollinger Bands line). If the price breaks through this level with high volume, an increase to 0.08974 is possible.

Conclusion

Currently, the REI/USDT coin is in a correction and consolidation phase.

If the price remains above the support of 0.06608 and the volume increases, there is a potential for a bounce to the resistance of 0.07962.

However, if the support is broken, the downward movement can continue deeper.

Advice:

Monitor the support area 0.06608 and MACD indicator to see if there is a trend reversal or not.

#DYOR