Hello, Criptozun is here.
Analyzing the chart at the moment, we can observe some points:
* Current Price: The price is around 166.81 USDT.
* Recent Trend: There seems to be a slight downtrend in the short term, with the last red candles indicating selling pressure.
* Support Levels: We can observe a support area around 164.54 USDT (24h low). The price seems to have found some support in this area recently.
* Moving Averages:
* The 7-period moving average (yellow line) is below the 25-period moving average (blue line), which is generally considered a bearish signal in the short term.
* The 167-period moving average (purple line) is still above the current price, suggesting that the long-term trend may be bullish, but weakening.
* Supply: There is a visible supply at 166.81 USDT.
Considerations for a Decision:
* Buy Scenario: If the price manages to stay above the support level of 164.54 USDT and shows signs of reversal (for example, with strong green candles), there could be a buying opportunity aiming for a return to the higher moving averages.
* Sell Scenario: If the price breaks the support level of 164.54 USDT with volume, selling pressure may increase, indicating a possible selling opportunity aiming for lower levels.