Trend Analysis (EMA)#SYN
The Exponential Moving Averages (EMA) are showing a clear "Death Cross" pattern on this short-term scale.
The EMA(7) (yellow) and EMA(25) (pink) have both crossed below the EMA(99) (purple).
When the shorter-term averages sit below the long-term average, it indicates a strong downward momentum. The price is currently struggling to stay above the 0.0617 mark.
2. RSI (Relative Strength Index)
The RSI(6) is currently at 26.15.
Standard interpretation: Anything below 30 is considered oversold.
This suggests that the selling pressure might be exhausted soon, potentially leading to a "relief bounce." However, in a strong downtrend, RSI can stay oversold for a while before a reversal actually happens.
3. Price Action & Volume
Support & Resistance: There is immediate support around the 0.0611 level (the recent low). If it breaks this, we could see a further slide. Resistance is sitting heavy at 0.0630 (where the EMAs are clustered).
Volume: The volume bars at the bottom show that the recent big drop was accompanied by significant selling volume, which confirms the strength of the current move down.
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