Current price: around 0.0043
General trend: Down, as we notice a continuous decline since the peak of 0.01869.
Exponential Moving Averages (EMA):
EMA(7) = 0.00463 (close to current price)
EMA(25) = 0.00630 (above current price)
EMA(99) = 0.00983 (too far from current price)
This indicates a continuation of the downtrend, as the price is still below these averages.
Relative Strength Index (RSI 6): 23.33 (indicating oversold, which could mean a bounce is imminent).
Volume: The volume has been rising recently, which may indicate that buyers may be entering the market.
Expectation:
We may see a short-term bounce if buying volume continues to rise.
The nearest resistance is at 0.00584 (average buy price), and if it is broken, the price may return to higher levels.
If the support at 0.00356 is broken, the decline could continue.
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2. Medium term (a few weeks to a month)
The trend is still down with a negative crossover of the moving averages.
The price needs to break the EMA 25 at 0.00630 to prove the beginning of a potential recovery.
Indicators are still weak, which means that any rise may be temporary before the decline resumes.
Expectation:
If volume continues to rise, we may see a test of the 0.006 - 0.007 levels.
If the price cannot hold above 0.00584, the downtrend will continue.
3. Long term (coming months)
The general trend has been bearish since December 2024.
The 99 EMA at 0.00983 is a strong resistance level.
Any long-term recovery depends on significant liquidity entering the market.
Expectation:
In case of positive news or new liquidity injection, we could see breakouts towards 0.01.
Tip: Watch the volume and RSI for bounce opportunities.