#CryptoTrading.
šTechnical Analysis (1 hour) $TREE /USDT
1. Price and Movement: The current price is 0.6703 USD, which is a significant decrease from the recent high of 1.3585 USD. There is a sharp decline, which may indicate strong trading pressure or panic in the market.
2. Volume: Trading volume (Vol 77,832,272) is quite high, which confirms the intensity of the price movement. Increasing volume during a decline often loses to active asset sales.
3. Candles: The chart shows a large red candle, indicating a strong bullish trend that has changed sharply to a bearish one. This may be a sign of a trend reversal or correction.
4. Indicators:
ā¢ MACD: No data available, but the chart shape suggests that MACD may be in the negative crossover zone (sell signal) if the MACD line has crossed the signal bottom upwards.
ā¢ StochRSI: Values of 0.15 (overbought level) and 0.10 (neutral) indicate that the market may be oversold, sometimes exceeding a rebound or stabilization.
5. Support and Resistance: The nearest support may be at 0.5779 USD (local low), and resistance at 0.8901 USD or higher at 1.024 USD if the price recovers.
ā ļøConclusion: The current situation looks like a sharp bearish movement with signs of oversold. It is recommended to monitor the support levels and a possible rebound.
