$AUCTION đ Technical Analysis: AUCTION/USDT đđ
The AUCTION token had an extremely volatile movement in the last 24 hours. After reaching a peak of $68.31, the coin underwent a strong correction and is now trading at $20.76. Let's analyze the key indicators:
đ Key Points:
âïž Significant rise followed by correction: The price rose from $7.01 to $68.31, an impressive appreciation, before quickly dropping.
âïž Bollinger Bands: There was a significant expansion of the bands, indicating strong volatility. Now, the price is approaching the lower band.
âïž RSI (Relative Strength Index): The 6-period RSI is at 33.93, indicating that the coin is entering the oversold zone.
âïž MACD: The MACD histogram is negative, suggesting that selling pressure is still strong.
âïž OBV (On-Balance Volume): There was a significant increase in volume, signaling strong interest in the coin, but also possible exhaustion of the upward movement.
đź Conclusion:
đ The AUCTION has undergone a parabolic movement and a strong correction. The market may be looking for new support before defining a new trend.
đ If the price can stabilize above $20, there may be a recovery. Otherwise, we could see a test at lower levels.
â ïž Attention: This is a highly speculative market. Always do your own analysis before making investment decisions!
đ What do you think? Will AUCTION recover or does it still have room to drop? Comment below! đđđ
