Technical analysis of DATA coin
DATA coin is the digital currency of the Streamr project, which focuses on decentralized data and real-time data trading using blockchain technology.
✅ Goals of the Streamr project:
1. Creating a decentralized data market, where users can buy and sell data with confidence and transparency.
2. Enabling the Internet of Things (IoT) to exchange data in real-time.
3. Protecting data privacy through advanced encryption techniques.
4. Using smart contracts to incentivize data exchange between users.
✅ Support areas:
1. 0.01441 – Clear horizontal support, from which the price recently bounced.
2. 0.01325 – Medium-term support (close to the 99 average).
3. 0.01236 – Lowest price in the last 24 hours, currently a very strong support.
✅ Resistance areas:
1. 0.01557 – Near resistance, formed after the price rejection.
2. 0.01762 – Current highest peak, representing a major resistance in the short term.
3. 0.01789 – Psychological resistance (forming a supply area).
🔍 Will the price rise? (Short-term prediction):
✅ The price is above the moving averages MA(25) and MA(99), which gives a positive signal.
✅ Trading volume is high compared to previous periods, indicating liquidity entry.
⚠️ Relative Strength Index RSI = 41, which means it is not in the overbought or oversold area, but it has started to decline, indicating a potential temporary correction.
❗The price temporarily broke the resistance at 0.01557 but returned below it, which may indicate a temporary weakness in the upward momentum.
📈 Result:
If the price maintains the 0.0144 area as support, it is likely to rise again towards 0.0175 - 0.018.
However, if it breaks below 0.0144 with a clear candle close, we might see a correction towards 0.0132 or even 0.0123.
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