1. General trends:
Current Price: 2,679.24 USDT (-2.75%)
24h High: 2,845.32 USDT
24h Low: 2,616.72 USDT
The price had a strong rally to 2,845.32 USDT, then sold off sharply to 2,616.72 USDT before recovering slightly.
2. Technical indicator analysis:
✅ Bollinger Bands (BB):
The current price is hovering near the middle line of the Bollinger Bands (MB: 2,690.98 USDT).
Previously, the price touched the upper band and then dropped sharply to the lower band. This shows strong selling pressure.
✅ RSI (Relative Strength Index):
RSI(7) = 44.82, showing that the market is in the neutral zone, not oversold but not overbought either.
RSI has dropped sharply from the previous overbought level, but is now showing signs of slowing down.
✅ MACD (Moving Average Convergence Divergence):
MACD is below the signal line (MACD: 3.35, DEA: -17.02), indicating that the downtrend is still dominant.
The histogram is negative but starting to narrow, which could signal that selling pressure is fading.
✅ Trading volume:
Volume spikes during the sell-off, then tapers off as prices recover. This suggests selling pressure is waning.
3. Comments:
Short-term trend: Down but showing signs of accumulation and possible recovery.
Important support zone: 2,616 - 2,637 USDT (recent low).
Important resistance zone: 2,693 - 2,748 USDT (Bollinger Bands middle line and nearest resistance).
