Based on the provided chart and applying core technical analysis:
* Next Move of Trend: The chart shows the price currently testing the 24-hour high. A break and sustained trading above this high ($0.04805) could indicate further upward momentum. The price is also above several moving averages (7-day, 25-day, and 99-day MAs are below the current price), which generally suggests a bullish trend. However, the presence of a potential resistance level at the 24-hour high means a rejection is also possible, leading to a pullback towards the support level around $0.04537 or even lower towards $0.04258.
* Next Move According to SMC & Psychological Factors:
* SMC (Smart Money Concepts): Without a deeper look into order blocks, liquidity pools, and fair value gaps, it's challenging to pinpoint precise SMC-based entries. However, the rejection wick visible near the high could represent smart money taking profits or short positions at a perceived supply zone. A break above this high with significant volume could invalidate this and suggest accumulation by smart money for a further push up.
* Psychological Factors: The 24-hour high often acts as a psychological resistance level. Many traders might have sell orders placed near this level. A strong push through this level could trigger fear of missing out (FOMO), leading to more buying pressure. Conversely, failure to break it might encourage short selling as traders anticipate a move back down to recent support levels. The low at $0.03525 also acts as a significant psychological support.
* Suggested Trade Side: Given the current price action near the 24-hour high and the bullish signals from moving averages, a long (buy) position could be considered upon a confirmed break and retest of the $0.04805 level with increased volume. The stop-loss could be placed below the recent swing low around $0.04537 to manage risk. Alternatively, more conservative traders might wait for a clearer breakout above the $0.05000 psychological level.
