Important analysis for the currency
The currency 1000000MOGUSDT was in a clear upward trend reaching a peak at 1.2463, then it started to decline again, now reaching 0.9905. There are clear signs of weak buying momentum currently:
The RSI indicator is at level 32, which is close to the oversold zone, potentially indicating a near-term bullish rebound.
The SAR indicator is above the candles, indicating a continued downward trend in the short term.
The latest candles show clear selling pressures with a failure to maintain above 1.06.
My advice:
Do not buy now. Wait for a strong reversal candle to appear with a clear break above the 1.06 level and an increase in the RSI above 50. Also, try to only enter after the SAR drops below the candles, as this confirms that the trend has indeed reversed.
Monitor the market cautiously and always have a stop loss, especially since the market is currently very volatile.
