The TOWNS coin is currently trading near $0.0314 with relatively weak movement. The technical indicators on the daily timeframe show a clear bearish bias as most moving averages indicate downward pressure, while the oscillators tend toward neutral.
On the short timeframe, the price hour is consolidating below the resistance, and the most important level to surpass is $0.0319 to regain upward momentum. In case of a breakout, the expected targets are $0.0328, then $0.0355 reaching up to $0.0388. However, if the price fails and support is broken between $0.0310 – $0.0308, it may head downwards to $0.029.
On the medium 4-hour timeframe, the RSI indicators reflect a state of overselling below 30, indicating a potential upward rebound, and the MACD shows a positive crossover. This supports the idea of a recovery opportunity in the short term if the price maintains the $0.0308–$0.0310 area.
In summary, the overall trend still leans towards decline on the daily timeframe, but rebound signals are present on shorter timeframes. Surpassing $0.0319–$0.0320 may push the price into an upward wave, while breaking $0.0310 downwards will increase negative pressures.
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