Technical Analysis:
Trend and Moving Averages (EMA):
The price is below the 7, 14, 21, 50, 100 and 200 period EMAs, indicating a prevailing downtrend.
The 7 period EMA (0.7610) is acting as immediate resistance.
For a trend reversal, the price would need to break the 50 EMA (0.8676) and consolidate above it.
Ichimoku Indicator:
The price is below the cloud, confirming a downtrend.
The future cloud also projects a bearish scenario, with significant resistance between 0.78 and 0.80.
RSI (Relative Strength Index):
The RSI is at 40.95, indicating a slight recovery after being in the oversold zone.
There are no strong signs of a reversal yet, but a move above 50 on the RSI could indicate bullish momentum.
Stochastic RSI:
The Stochastic RSI is at 87.34, showing overbought conditions in the short term, which could signal a correction or consolidation.
MACD:
The MACD is attempting a bullish crossover, but the histogram is still showing weak signs of buying strength.
A more defined crossover of the MACD line above the signal line could confirm a possible short-term rally.
VPVR (Volume Profile):
There is strong support near 0.7482, while the main resistance is around 0.7814 (the area of highest trading volume).
The volume gap above 0.78 indicates that if the price breaks this resistance, it could quickly move up to 0.80 - 0.86.
Possible Scenarios:
Bullish:
Breaking the 7-EMA (0.7610) and the resistance level at 0.7814 could lead the price to test 0.80 and potentially 0.8676 (50-EMA).
The MACD and RSI sustaining the bullish movement could confirm the rally.
Bearish:
Rejection at the 7-EMA and loss of the support at 0.7482 could lead the price to retest the critical support at 0.7463 and, if lost, seek lower levels.