I’ve been tracking $FIDA closely today, and we finally caught a decent short-term bounce. The price flushed all the way down to a fresh low of 0.02006, but buyers stepped in to push us back up to around 0.02157.
On the 15-minute chart, you can clearly see the relief rally as the RSI pushed up to a much healthier 63.14. On the 1-hour chart, the price managed to break cleanly above the EMA(21) and is currently fighting to reclaim the EMA(44) at 0.02184. If we can get a solid hourly close above that line, it might give us enough fuel to test the daily EMA structures. However, looking at the daily chart, the macro trend is still deeply down, and the longer-term moving averages are still acting as major overhead resistance. It's a nice scalp environment, but I'm keeping my expectations realistic until structural daily resistance is cleared.
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Note: This is just my personal observation and not financial advice. Crypto is volatile, so do your own research.
Do you think this minor bounce has legs, or is it just a dead cat bounce before another leg down?