1. Price movement:
Current price: $0.0000000014022
Today's increase: +44.20%, indicating strong buying power currently.
The last candle is bullish and relatively long, indicating buying momentum.
2. Technical Indicators:
EMA50 (yellow) was above the price in the previous period but now the price is close to breaking it, which is a positive signal.
EMA100 (purple) is still much higher, meaning the overall trend is still downward in the medium term.
RSI on the short frame (6) is about 68, approaching the overbought area, meaning we may see profit-taking soon.
MACD has started to show a positive crossover (DIF above DEA), a bullish signal.
3. Nearby supports and resistances:
Strong support at: $0.0000000008107 (last bottom).
First resistance at: $0.0000000015979 (previous peak).
Second strong resistance at: $0.0000000016372.
Summary:
The short-term trend is currently upward due to momentum.
But the RSI is close to overbought, a correction may be near if it does not break the first resistance.
If 1.5979 is firmly broken, we may see a stronger upward wave.
Caution is required because the total liquidity is only $2.95M, which means that any large sell-off could quickly pressure the price.
