Technical Analysis Summary (Data taken from the chart):
Current price: 2.3125 USDT
Highest price in 24 hours: 2.4497 USDT
Lowest price in 24 hours: 2.2827 USDT
Current trend: Short-term bearish (reversal from previous rise)
Indicators used:
MA(7): 2.3700
MA(25): 2.3886
MA(99): 2.3344
The recent candles show a break of MA(25) and MA(7) downward, with support attempts from MA(99).
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Support and Resistance Points:
Supports:
1. 2.2827 (Lowest point in 24 hours)
2. 2.2500 (Psychological support and strong previous level)
3. 2.2100 (Potential support from previous peaks)
Resistances:
1. 2.3340 (MA99 line – currently a dynamic resistance)
2. 2.3700 (MA7 line)
3. 2.3886 (MA25 line)
4. 2.4497 (Highest peak in 24 hours)
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Potential price targets:
Upward Scenario:
Buy above 2.3300 (when breaking MA99 with at least 1 hour candle closing)
First Target: 2.3700
Second Target: 2.3880
Third Target: 2.4490
Downward Scenario:
Sell below 2.2820 (break of strong support)
First Target: 2.2500
Second Target: 2.2100
Stop Loss: 2.3300
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Recommendation:
Currently, the market is in a correction phase and it may be a suitable buying opportunity if it holds above 2.3300.
But if 2.2820 is broken with a clear close, be cautious of further decline.
