Analysis of MOVR/USDT:
General Trend:
The price is in a downward trend, having dropped to $4.89 and then slightly rebounding to $5.10.
The price is below EMA50 ($6.405) and EMA200 ($7.495), confirming the downward trend.
Technical Indicators:
RSI at 13.03: in the oversold area, indicating a potential upcoming rebound.
Stochastic RSI at 11.21: also in oversold territory, supporting the likelihood of a slight rebound.
Trading volume is high at the bottom, which may indicate some buyers entering at these levels.
Supports and Resistances:
Current support: $4.89 (if broken, the price may head towards $4.67 or lower).
First resistance: $5.38 (23.6% Fibonacci level).
Second resistance: $6.10 (highest peak in 24 hours).
Possible Scenarios:
1. If the price maintains $4.89: we may see a rebound towards $5.38 and then $6.10.
2. If it breaks $4.89 downwards: it may drop to $4.67 and then $4.50.
