$1000CAT
Trend Analysis
The chart is on a 4-hour timeframe, showing a recent uptrend with a sharp price increase followed by a pullback.
Bollinger Bands (BB 20,2):
The price spiked above the upper Bollinger Band (around 0.01309), indicating overbought conditions before pulling back.
The current price is between the middle and upper bands, suggesting possible consolidation or continuation.
Parabolic SAR (PSAR 0.02, 0.2):
The SAR dots are currently above the price, signaling a potential reversal or correction.
Price Movement
Recent High: 0.01309
Recent Low: 0.00970
Current Price: 0.01107
StochRSI (Stochastic RSI):
Around 53, indicating a neutral momentum, neither overbought nor oversold.
If it moves above 80, it would suggest overbought conditions, and if below 20, it would indicate oversold conditions.
RSI Levels:
RSI(6) = 53.16 (short-term momentum is neutral)
RSI(14) = 51.74 (medium-term is neutral)
RSI(24) = 47.69 (long-term is slightly bearish)
Support & Resistance Levels
Major Resistance: 0.01228 - 0.01309
Price previously hit 0.01309 and faced rejection, forming a local resistance.
If the price breaks and holds above 0.01228, the next target would be 0.01309 and beyond.
Major Support: 0.00970 - 0.00983
The lowest recent dip at 0.00970 is a strong support zone.
If price drops below this, next key support could be around 0.00861.
Conclusion & Trading Strategy
Bullish Scenario:
If price reclaims 0.01228, it could retest 0.01309 and potentially move higher.
Look for confirmation with StochRSI moving upwards and MACD showing bullish crossover.
Bearish Scenario:
If price falls below 0.01060, it may test 0.00983 and 0.00970.
A break below 0.00970 could lead to further downside, targeting 0.00861.
