Current price: 0.10190 USDT
Volatility: We see a sharp spike at the beginning (approximately 0.18-0.20), then a sharp decline and a long consolidation period around 0.07-0.10 USDT. In recent days, there is a slight price increase.
Trading volumes: Volume for 24 hours in $SAHARA — 507.85 million, in USDT — 48.45 million. This indicates quite high liquidity of the token.
Trend:
On the monthly timeframe, there is strong volatility with a sharp rise at the beginning of the period and subsequent decline.
After the decline, the price stabilized and is now showing a slight upward movement. It is important to observe whether the price can establish itself above 0.10 USDT.
Support and resistance:
Support around 0.07 USDT (lows after the drop).
Resistance around 0.11-0.12 USDT (local growth highs).
Risks:
High volatility suggests significant price fluctuations.
Lack of a clear long-term trend.
Conclusion:
On the monthly chart $SAHARA shows high volatility with a strong drop after the initial peak and subsequent consolidation. Currently, there is an attempt at recovery, but for confident growth, a breakout of resistance in the range of 0.11-0.12 USDT with an increase in trading volume is required.
It is recommended to monitor volume dynamics and trend confirmation for a potential entry. It is also worth considering fundamental news and events affecting the coin.
#Write2Earn #BinanceSquare #CryptoCommunity