Alright, let's break it down based on 1 hour chart:
Here’s what I see:
Price: $0.8164 (currently down -6.86%)
24h High/Low: 0.9870 / 0.7700 (currently closer to the low)
Indicators:
MA (7): 0.8132
MA (25): 0.8480
MA (99): 0.7757
RSI (6): 46.09 → RSI is neutral (not overbought or oversold).
MACD:
MACD line is below the signal line (DEA), and both are negative → bearish momentum.
Volume: Decent activity, but no big spike indicating huge buyer/seller interest recently.
Potential Plan:
Trend: Short-term downtrend; price is below the 25 MA and hugging the 7 MA closely.
Immediate Support: Around 0.7700 (24h low and close to 99 MA at 0.7757).
Immediate Resistance: Around 0.8480 (25 MA).
Options:
If you're thinking of buying:
Safer to wait for a strong bounce near 0.775 or a confirmed breakout above 0.848 with volume.
You could also wait for MACD to start turning positive.
If you're thinking of selling:
If already holding, could consider selling partials if the price can't reclaim the 25 MA (0.848), or if RSI drops below 40 signaling stronger bearish momentum.
Stop Loss (if buying):
Set just below 0.770 (example: 0.765).
Take Profit Target:
Conservative: Around 0.848 (first resistance)
More aggressive: 0.987 (recent high)