1. General price trend
The price reached a high of 11.46 before starting a sharp decline.
The price is currently at 1.356 after a strong decline, indicating a major correction or price breakdown.
2. Moving Averages (EMA)
EMA(7) = 3.330 (yellow): Reverses the trend.
EMA(25) = 4.481 (purple): Represents a medium-term trend.
EMA(99) = 4.365 (blue): Reflects the long-term trend.
The current price is below all averages, indicating a strong downtrend.
3. Relative Strength Index (RSI)
RSI(6) = 17.996 → A very low value indicates severe oversold, which may indicate a possible bounce soon.
4. Momentum indicators
K: 12.603, D: 22.987, J: -8.165 (Stochastic): Shows weak momentum with a possible slight bounce.
STOCHRSI = 0.000 → Another confirmation of extreme oversold.
5. MACD Indicators
MACD = -0.333, DEA = -0.160, DIF = -0.496 → All values are negative, which means the downtrend is still in control.
Conclusion and expectations
Current trend: Strongly bearish with price reaching oversold areas.
Possible signs:
A slight bounce may occur due to oversold conditions, but there is currently no confirmation of a trend reversal.
If the support at 1.356 does not hold, the decline may continue to lower levels such as 0.777.
To confirm the bullish reversal, the price must cross the 2.5 - 3.3 level.
Proposed strategy
Scalpers can wait for a strong reversal candle before entering a short buy trade.
Investors should be cautious and prefer to wait for a strong breakout of the resistance level and confirm the trend reversal.
Do you have any additional questions about the analysis?