Moving Averages:
The price remains above the 200-period SMA at $10.89, indicating that the overall momentum is still bullish. However, the current pullback could test this support level.
RSI:
The RSI is at 41.51, showing that the momentum has shifted to a more neutral or slightly bearish stance, with neither strong buying nor selling pressure.
MACD:
The MACD line is at 0.024, slightly above the signal line at 0.137, which indicates that the bullish momentum is weakening, and a bearish crossover could be imminent if the pullback continues.
Bullish Scenario:
If the price can hold above the $11.50 level and rebound from the current pullback, it may aim for resistance levels around $12.50 and $13.00, continuing the uptrend.
Bearish Scenario:
If the price fails to maintain the current levels and falls below the 200-period SMA at $10.89, it could drop back toward the previous support levels around $10.50 and $10.00.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and carry a high level of risk. Please conduct your own research before making any investment decisions.
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