#snakes

📊 Technical Analysis of SNAKES (8h interval)

🔹 1. RSI (momentum)

• Both RSIs (6 and 12) are significantly below 30, suggesting extreme overselling.

• Potential reversal point, but no guarantees – dependent on volume and averages.

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🔹 2. Moving Averages MA5 vs MA10

Indicator Value

MA5 1.39M

MA10 1.17M

• MA5 > MA10 → short-term average crosses below long-term average ➜ bullish signal (so-called “bullish crossover”).

• This golden cross often heralds the beginning of a rebound, especially with an oversold RSI.

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🔹 3. Volume = 555.7k

• Although lower than MA5 and MA10, there is still circulation – volume is not zero.

• If the next 1–2 candles show increasing volume + confirmation with a candle, we can speak of the beginning of a short-term rebound.

🟢 Conclusions

Signal Value/Trend Meaning

RSI < 20 Strong overselling – possible rebound opportunity

MA5 > MA10 Bullish crossover Potential trend change to upward

Volume Moderate Confirmation needed for further increase

📌 Technical signal: Early phase of a potential rebound

• Technical indicators together suggest: the market may be preparing for a short-term correction.

• Confirmation needed: e.g. bullish candle + increasing volume in the next 8h session.