#jst #trx
JS/USDT trading pair (possibly a futures contract), shown on a 4-hour time frame. Here's a quick technical analysis of what’s visible:
Observations:
Current Trend:
The price is in a downward trend since around May 24, forming lower highs and lower lows.
The price is currently trading near a local support zone (~0.03450 USDT).
Support and Resistance:
Immediate support is around 0.03453 — a break below this could lead to a further decline.
Immediate resistance is around 0.03596 — previously acting as support, now turned resistance.
Further resistance levels are at 0.03649 and 0.04000.
Additional support is near 0.03400.
Bollinger Bands:
Price is riding the lower band, which suggests a continuation of the bearish pressure.
Bands are somewhat narrow, indicating low volatility and possible consolidation.
Volume:
There is low trading volume in recent candles, indicating weak momentum — could be either a pause or a precursor to a breakout.
Potential Scenarios:
Bearish: If the price breaks and closes below 0.03453 with volume, we might see a drop toward the next support around 0.03400 or even 0.03300.
Bullish Reversal: If it holds above 0.03453 and breaks above 0.03596 with volume, a short-term rally toward 0.03649 or 0.03800 could follow.
