hello fellow traders

Based on chart $BEL from the image below, here is a brief technical analysis from me:

1. Current Trend Direction

** Price sharply declined from a peak of around 0.7961 to 0.5665 (down over 23%).

** EMA (7, 25, 99) all indicate a downward direction, signaling a strong bearish trend.

** MACD is still negative, although it is starting to approach a bullish signal (indicating potential reversal if confirmed).

** RSI (6) is at 28, indicating an oversold condition — a short-term rebound could occur.

2. Volume & Open Interest

** Volume has increased recently, which could mean there is significant buying interest or large sell-off.

** Open Interest (O.I.) has risen, indicating many new open positions — it could mean increased market participation.

3. Potential Next Direction

** If there is no strong support or reversal signal, the trend is still at risk of continuing down (bearish).

** However, since RSI is nearing oversold and MACD is starting to narrow, there is a chance for a short-term rebound (pullback).

Confirmation of a reversal is only valid if the price breaks and holds above EMA 25 (0.6114) or at least breaks the minor resistance at 0.5971.

Conclusion

Short-term: Small rebound potential, but trend upward not yet confirmed.

Medium-term: Still bearish unless there is a breakout from EMA 25 or significant buying volume.