$ARIA /USDT is currently going through an Extreme Bearish phase on the Daily (1D) chart. A technical analysis for traders is provided below:
Technical Analysis
Price Crash: A large red candle is visible on the chart, which has dropped the price from $1.02 straight to $0.059. This indicates a "Flash Crash" or significant liquidation.
Moving Averages: The price is currently trading well below all three major MAs (MA7, MA25, MA99). As long as the price remains below these averages, the trend will remain bearish.
RSI (6): The RSI is at 29.81, which has entered the Oversold zone. This means that selling pressure has been very high, and a slight rebound (bounce) could occur from here, but this is not a signal for trend reversal.
Support & Resistance: Immediate support is at $0.059, while resistance has now formed directly at $0.178 (MA99).
Trading Strategy
Bearish View: The market is currently in "Extreme Fear." As long as the price does not sustain above $0.150, there will be a risk of selling on every bounce.
Bullish View: Only those traders should enter who can bear high risk, as the RSI is oversold. A small bounce could occur up to $0.12 - $0.15.
Verdict: The market is currently Bearish. New traders should avoid going "Long" in this volatility until a base is formed.
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