1-Hour Chart AnalysisPrice Action: The price is currently at $0.395, reflecting a slight decline of 0.25%.Moving Averages: The price has crossed above the 200-period SMA at $0.383, which may indicate a short-term bullish momentum.RSI: The Relative Strength Index (RSI) is 54.98, indicating neutral momentum with a slight bullish bias.MACD: The MACD line is above the signal line, suggesting a bullish crossover and potential upward movement, though momentum seems moderate.
4-Hour Chart AnalysisPrice Action: On the 4-hour chart, the price remains below the 200-period SMA at $0.516, which is a strong resistance level.RSI: The RSI is at 55.09, also indicating a neutral stance but slightly leaning towards bullish.MACD: The MACD line is in a positive territory above the signal line, showing early signs of potential upward momentum, though the market needs more confirmation to sustain this move.
Bullish Scenario
If the price can maintain above the 200-period SMA on the 1-hour chart and successfully break above the resistance on the 4-hour chart, further upward movement towards $0.42 and $0.45 could be expected.
Bearish Scenario
However, if the price fails to hold above the 1-hour SMA and falls below the current levels, it may retreat to support levels around $0.36 and $0.34.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional financial advisor before making any trading decisions.
