#CryptoTrading. #TechnicalAnalysiss
šTechnical Analysis (1 hour) $TREE /USDT
1. Price and Trend:
ā¢ The price has increased from 0.4687 to 0.5806, indicating a short-term bullish movement. However, the overall trend remains sideways with a gradual decline, as can be seen from the moving average (MA).
2. Moving averages (MA):
ā¢ MA(5): 6,797,824.8 and MA(10): 4,916,903.0 show increasing volumes, which supports the current upward movement. A MA crossing could signal a trend change, but this is not currently observed.
3. Bollinger Bands (20, 2):
ā¢ The price is approaching the upper limit (UP: 0.5628), which may indicate overbought conditions. A possible reversal should be monitored if the price breaks this level or returns to the average (MB: 0.5088).
4. MACD:
ā¢ DIF (0.0087) and DEA (-0.0024) are approaching a crossover, while MACD (0.0110) is positive. This confirms bullish momentum, but a weak signal, so caution is needed.
5. Volume:
ā¢ The increase in volume (6,748,278.5) during the last upward move supports the trend, but a sharp decline in volume may indicate exhaustion.
6. Stochastic RSI:
ā¢ STOCHRSI (100,000) and MASTOCHRSI (97.8475) are in the overbought zone, which may warn of a possible correction.
ā ļøConclusion: The current movement looks like a short-term rebound within the sideways range. It is recommended to watch for a breakdown of the upper Bollinger Bands or a return to 0.5088 to confirm the further direction. Consider taking profits or setting stop losses below 0.4687.