Possible Scenario: - Bullish Scenario: If the price manages to break the resistance at 35.0941 USDT, we could see a continuation towards the level of 36.9860 USDT (Fibonacci level 0.62) and beyond towards 46.2814 USDT (level 1).
- This scenario could be reinforced if an increase in volume is observed and the price breaks the descending structure of the chart.
- The price has been consolidating between the levels of 1.793 (support) and 1.852 (minor resistance at 0.23 of Fibonacci). This consolidation suggests indecision in the market.
- The MACD shows a slight bearish signal, with the histogram in red and the moving averages crossing downwards. However, the magnitude is weak, indicating a lack of clear momentum in either direction. If the MACD turns upward, this could confirm a move towards the resistance levels.
- The RSI is at 51.17, suggesting neutral conditions. There are still no signs of overbought or oversold conditions, leaving room for the price to move in either direction.
Possible Scenarios: - Bullish Scenario: If the price breaks the level of 1.852, we could see a move towards the resistance at 1.952. A breakout beyond this level would confirm a trend change and open the doors to 2.049 and possibly 2.119.
- Bearish Scenario: If the price fails to surpass the resistance of 1.852 and falls below the support of 1.793, we are likely to see a correction towards lower levels, possibly towards 1.750.
- The price is within a symmetrical triangle, which indicates indecision in the market. This pattern often precedes a significant movement, either upward or downward. The breakout of this triangle will be key to determining the direction of the price.
- The RSI is at 51.21, indicating neutral momentum, with no clear overbought or oversold conditions. If the RSI rises above 60, it could signal the beginning of a bullish momentum. However, a drop below 50 could increase bearish pressure.
- The MACD shows a developing bullish crossover, although the lines are still close to the zero level. This suggests that upward momentum is gaining strength, but it needs confirmation with an increase in volume and price.
Possible scenarios - Bullish scenario: A breakout of the triangle above 2.5338 would push the price towards 2.6419 (0.62 of Fibonacci) and possibly towards 2.7472. This scenario would be strengthened if the RSI exceeds 60 and the MACD shows higher bars in its histogram.
- Bearish scenario: A breakout below 2.4700 could lead the price towards lower supports, possibly around 2.4000 or even lower levels.