Price is in a short-term downtrend on the 4H chart after a rejection near the upper band (~1.00).
Recent candles show a minor bounce from the lower Bollinger Band, but structure remains weak below the mid-band (moving average).
Bollinger Bands
Price rebounded from the lower band, indicating temporary oversold conditions.
Currently trading below the middle band (~0.95) → sellers still in control unless reclaimed.
Upper band near 0.99–1.00 acts as strong resistance.
RSI (4H)
Around 47 → neutral but recovering from oversold.
Indicates momentum is stabilizing, not yet bullish.
Volume
Moderate volume on the bounce — not strong enough to confirm a reversal yet.
Key Levels
Resistance
0.948 – 0.955 (mid-band / short-term supply)
0.99 – 1.00 (major resistance zone)
1.05 (next breakout level)
Support
0.92 – 0.90 (recent swing support)
0.88 (strong demand zone)
0.84 (major support if breakdown continues)
Possible Scenarios
Bullish Scenario
Reclaim and hold above 0.955
Break of 1.00 could trigger momentum toward 1.05 – 1.10
Bearish Scenario
Rejection below 0.95 keeps price ranging/down
Loss of 0.90 opens move toward 0.88 → 0.84
Short-Term Outlook
Neutral to slightly bearish unless price closes above the mid-band (~0.95). Current move looks like a relief bounce inside a down move.
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