Analysis by chat GPT
Here's my analysis of AUCTION/USDT based on the chart:
Key Observations:
Massive Drop (-59.08%)
The price dropped sharply from a high of $68.31 to $23.23.
This indicates heavy selling pressure.
Support & Resistance:
Support: Around $23.12 (24h low).
Resistance: Previously at $62.48 but likely lower now.
Indicators:
RSI (6): 35.95 → Near oversold territory (below 30 is oversold).
MACD (5.79 vs. 5.72) → No strong momentum, but bearish.
Wm %R (-87.20) → Extremely oversold.
Stoch RSI (33.33) → Still weak but could bounce.
Volume:
High trading volume suggests panic selling.
Prediction:
Short-term: Could see a small bounce due to oversold indicators.
Mid-term: If it fails to hold $23, expect further downside.
Upside target: Needs to break $30-$35 to confirm a reversal.
Verdict:
Likely to consolidate or drop further unless buyers step in.
Watch $23 support carefully. If it breaks, more downside is expected.