#RESOLVTUSDT 🤑🤑🤑
Technical analysis for RESOLV/USDT:
🔴. Current price action:
- Current price: 0.2969 USDT (down -22.13% from the previous level).
- Support and resistance levels (from the "ratio" section):
- Nearby resistance: 0.3144
- Strong support: 0.2907 (lowest level in 24 hours).
- Other levels: 0.3450 (medium resistance), 0.2969 (current support).
🔴 Momentum indicators:
- RSI (Relative Strength Index):
- RSI(6): 19.39 Extremely oversold (below 30 indicates a potential rebound).
- RSI(14): 27.51 Oversold.
- RSI(24): 30.57 approaching the oversold area.
- Signal: Strong downward momentum, but oversold may cause a short-term rebound.
🔴 Trading volume and averages (Volume & MA):
- Trading volume (24h): 143.34M for RESOLV / 50.11M for USDT.
- Moving averages for volume (Volume MA):
- MA(5): 4.9M → Indicates recent increase in demand.
- MA(10): 4.5M → Upward volume trend.
- Signal: Increasing volume with a price drop shows strong selling pressure, but it may reverse if accompanied by positive indicators.
🔴Key levels for orders (Order Book):
- Immediate support: 0.2969 (tested as a new level).
- Resistance: 0.3144 (must be broken to start a recovery).
- Danger zone: Breaking 0.2907 may push the price to 0.2756 (next unmentioned support).
🔴General context:
- Currency classification: DeFi (high volatility sector).
- Trend: Sharp downward (-22.13%) with clear oversold.
- Strengths: Oversold (RSI <30) may cause a technical rebound.
- Weaknesses: Dominant selling pressure and high trading volume in the downward direction.
🔴 Technical recommendations:
1. Short-term traders:
- Buy entry: on a rebound from 0.2907–0.2969 with confirmation of positive RSI.
- Profit target: 0.3144 (near resistance).
- Stop loss: below 0.2907.
2. Long-term traders:
- Wait until:
- Breaking resistance 0.3144.
- RSI(14) improving above 50.
3. *Warning:
- Any break of 0.2907 may reinforce the decline to 0.2750 or lower.
- The sector (DeFi) is sensitive to negative news → Monitor project news.
⚠️ Note: It is advisable to use additional indicators such as MACD or Fibonacci levels for confirmation, knowing that this is just analysis and not investment advice or schedules.