🔹 Current price: $1.35
🔹 Daily decrease: -10.44%
🔹 Market capitalization: $254 million
🔹 The currency is traded on the BSC network
🔹 Number of holders: about 54 thousand
🔍 What we see on the chart:
1. A sharp drop from a peak of $61 to levels near $1.3 — a correction of over 97%!
➤ This means that the currency has completely lost its momentum after a previous strong liquidity pump.
2. The volumes (Volume) are now low compared to the peak period, indicating that most speculative traders have exited.
➤ The market seems to be in a state of 'calm' or early accumulation again.
3. The short-term moving averages (MA5 and MA10) are crossing downward, indicating continued technical weakness in the short term.
➤ So far, there is no strong entry signal before a clear reversal candle appears.
🟢 Potential positive points:
The current price is very close to a historical support area (around $1.25 – $1.30), making this area very critical.
If green reversal candles appear with high trading volume, it may be the beginning of a corrective rebound towards $1.6 – $1.8.
🔴 Negative points:
The overall trend is still clearly downward.
No confirmed buying signal has appeared from technical indicators (MA or Volume).
Loss of confidence after the significant drop may slow down recovery unless strong new liquidity enters.
🎯 Final analysis:
The previous scenario is still partially correct, but the trend has now become more cautious.
There is no confirmation yet on the beginning of an uptrend, unless:
✅ The daily candle closes above $1.50 – $1.55 with a clear increase in liquidity.
Then it can be said that the currency has started a real rebound towards $1.8 then $2.2.
If it breaks $1.25, it is likely that the decline will continue and perhaps retest the area of $1.00 – $1.10.
🕌 Summary for the conservative investor/trader:
The currency is now in a potential accumulation phase but has not given a confirmed entry signal yet.
It is best to wait until a technical confirmation of the upward return appears before buying.
This is not a buying advice and do your research before trading any currency, especially this highly volatile currency. Beware of futures and stick to spot.
We wish everyone good luck.
