Short analysis of the situation on the 1-hour timeframe:
✅ Technical picture: The price is constrained in the range of $0.5407 – $0.6162. The SuperTrend indicator is currently indicating a bearish trend, but the MACD is already showing a bullish crossover in the lower zone. This is often an early sign of preparation for an increase.
🚀 Possible scenarios:
Long: Entry after the breakout and consolidation above $0.62. This will confirm the trend change. Target — $0.67+.
Short: If the price bounces off the resistance $0.6160 downwards, a retest of the $0.54 zone is possible.
⚠️ Risks: The level $0.54 is critical support. A one-hour close below this mark will cancel the bullish scenario.
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