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The 0.00835 - 0.00845 area can be considered a good buy zone as it represents the current support for the price, where the price has bounced off it previously.
Sell Zone:
The 0.00900 - 0.00910 area represents a potential resistance, making it suitable for selling if the price reaches it and does not break it.
Recommendation:
Place a buy order at the support (0.00835) with a stop loss close below this level.
Place a sell order at the resistance (0.00910) or if there are signs of weakness in the uptrend.
To analyze the $IQ forecast (as shown in the image), the analysis is based on the charts and indicators used such as RSI, MACD, and trading volume. Based on the data:
1. Current price: 0.00867 USDT with a decrease of 11.82% in 24 hours.
2. Relative Strength Index (RSI): indicates 61.47, which is in the neutral to bullish zone, which means that the currency is neither overbought nor oversold.
3. MACD: shows a slight improvement with a possible positive crossover, which may indicate the beginning of an upward momentum.
4. Trading volume: Decrease in trading volume after a peak, which means that there is hesitation in the market.
Prediction:
If the price breaks the resistance level at 0.00910, we may see a rise to higher levels.
If the support at 0.00834 breaks, it may lead to a decline to lower levels.
It is advisable to monitor indicators and determine entry and exit points based on support and resistance levels. $IQ
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