The daily/4-hour trend is bearish, but the 15-minute chart has entered a consolidation phase after reaching a low of 0.5411, indicating that the downward momentum is weakening, creating conditions for a potential short-term rebound.
The key trigger point for trading is the 15-minute RSI indicator. Currently, the RSI is below the midline of 50, showing that momentum still leans towards the bears. However, we are looking for a clear signal that the RSI breaks above 50, which will confirm the return of short-term buying strength. At the same time, the price needs to reclaim the key EMA moving averages (such as EMA25, around 0.5506), which will serve as another confirmation signal for bullish momentum.
Despite operating in a larger downtrend, the logic for entering long positions now is based on a high-probability rebound trade. The sideways range formed after the price drop can be seen as a potential bottom-building process, and selling pressure has eased. By waiting for the RSI to break above 50 as a signal of momentum shift, we can enter early in the rebound market, with a target to test the main resistance level above EMA99, providing a clear and manageable trading opportunity.
Executable Actions (Go Long)
Entry: Market price 0.5496
Target 1: 0.5523
Target 2: 0.5600
Target 3: 0.5710
Stop Loss: 0.5390
