$Q Technical Analysis (Visible Indicators)
Candlestick Movement: The price has experienced a sharp rise followed by sideways fluctuation. The recent candles show some selling pressure (upper wicks), which may indicate a resistance area close to levels of 0.0163.
Relative Strength Index (RSI): The value is around 58-59. This means that the currency is in a positive zone but has not yet reached the "overbought" area, which typically starts above 70, leaving room for further upward movement if the momentum continues.
MACD Indicator: We notice a slight positive crossover with small green bars, supporting the continuation of the upward trend in the short term, but the strength is not explosive at the moment.
3. Support and Resistance Levels
Nearby Resistance: 0.016326 (the highest price reached today). Breaking this level could push the price to new levels.
Nearby Support: The area of 0.015190 and 0.015491. In case of a pullback, these areas are considered crucial for price retracement.
General Recommendation:
The currency is in a strong upward movement, but entering after a 21% rise carries the risk of a "correction." If you are considering buying, it is advisable to monitor the resistance level at 0.0163 or wait for a slight pullback to test the support areas.
