Swing Trading Signal & Technical Analysis for $AUCTION AUCTION/USDT

1. Current Market Overview

Current Price: $17.08

24h Change: -9.05% (Bearish)

24h High/Low: $19.00 / $16.94

Volume: 1.05M AUCTION, 19M USDT

2. Technical Indicators

Moving Averages (MA)

MA(7): $17.82 (Short-term resistance)

MA(25): $19.36 (Next resistance)

MA(99): $30.14 (Long-term downtrend)

Relative Strength Index (RSI): 13.65 (Oversold)

Volume Analysis:

Decreasing Volume suggests exhaustion of selling pressure.

3. Swing Trading Strategy

Entry Signal (Long Position)

Buy Zone: $16.50 - $17.00 (Potential support)

Confirmation:

RSI rising above 20

Green volume increase

Break above $17.82 (MA7)

Exit Strategy

Target 1: $19.36 (MA25, first resistance)

Target 2: $22.00 (psychological level)

Stop Loss: $16.50 (Below support)

Entry Signal (Short Position)

Sell Zone: If price fails to break $19.36

Confirmation:

Price rejection at resistance

RSI fails to go above 30

Risk Management

Risk-Reward Ratio: 1:2 or better

Stop-Loss Strictly Set Below Support

4. Market Sentiment

Oversold RSI indicates potential for a short-term bounce.

Volume decreasing suggests potential consolidation before a reversal.

Bearish trend in the last 7 days (-61.43%) but positive momentum in 30 days (+7.55%) suggests a possible reversal.

Final Signal

Short-Term (Next 24-48H): Bullish Reversal Possible

Long-Term: Still Bearish unless price reclaims $19.36