Current price: 0.6976 USDT
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📉 Current technical analysis of the currency
1) Overall trend
The currency is still in a downtrend after the previous explosion that reached massive levels ($20).
The drop was strong, but now there's an attempt to form a new bottom in the range of 0.60 – 0.70.
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🔹 Moving Averages (MA)
MA7 = 0.65 ➜ price is currently above it = short-term positive signal.
MA25 = 2.02 ➜ the price is very far below = the medium trend is still downward.
✔ The picture shows that the price has started trying to rise above MA7 for the first time after a long decline — this could be the beginning of an early trend change.
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🔹 RSI indicator
RSI(14) at 42 = no oversold condition, but it's close to a reversal zone.
RSI(6) at 37 = weak selling and a reversal signal is nearby.
✔ The RSI shows the beginning of exiting weakness.
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🔹 MACD indicator
MACD is still negative, but:
The histogram has started to decrease in negativity.
MACD lines are close to a bullish crossover.
✔ This indicates that the decline is losing strength, and the price may be in a "potential reversal" area.
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🔹 Volume (trading size)
There is a clear increase in volume in the last candle.
This likely indicates buyers entering from the bottom.
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📌 Summary (Concentrated)
The currency is trying to form a higher low.
The price has returned above MA7 for the first time in a while → a good signal.
RSI is improving, MACD is reducing negativity, and volume has increased.
The current area between 0.65 – 0.70 is a strong accumulation zone.
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🎯 Important areas
Main support
0.61 – 0.65
Upcoming resistances
0.85
1.05
1.20 (Strong resistance nearby)
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📈 Trading decision
🔹 If you are in the currency: suitable to hold now.
🔹 If you are not in:
Best entry area = 0.63 – 0.68
Stop loss:
🔻 Breaking 0.58
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📌 Is the rise confirmed?
No, but all indicators point to the beginning of a decline weakness and the approach of an upward reversal, especially with increased volume and buyers entering.
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