Technical Review of AVA/USDT (8-Hour Timeframe)
Current Price: 0.5812 USDT
Daily Change Percentage: -12.10%
Highest Price in 24 Hours: 0.6816 USDT
Lowest Price in 24 Hours: 0.5783 USDT
Key Technical Points:
1. Overall Trend:
The price is moving in a downward direction in the medium term, as we observe a series of lower highs and lower lows.
A strong low was recorded at 0.4230, then the price began forming an upward corrective wave.
2. Moving Average MA(99):
The price is moving below the 99-period moving average, indicating the continuation of the downward trend, despite recent breakout attempts.
3. Relative Strength Index RSI (Period 6):
The index is currently recording at 26.95, which is in the oversold area, indicating the possibility of a temporary rebound or upward correction soon.
4. Stochastic RSI:
Indicates that the currency is also in an oversold condition, reinforcing the scenario of an impending rebound.
Forecast:
Despite the strong selling pressure, momentum indicators (RSI and StochRSI) suggest that a technical rebound may be imminent in the short term.
If the price stabilizes above 0.58 USDT, we may witness a rise targeting levels of 0.64 - 0.68 and then 0.75