PEOPLE/USDT Price Testing Resistance Level
$PEOPLE
Moving Averages:200 SMA: The price is trading above the 200-period SMA (0.07259), indicating a possible bullish trend continuation. The price seems to have used the moving average as support during recent pullbacks and is currently well above it,
The RSI is around 57.76, showing moderate strength without being overbought. This reading suggests that the uptrend has room to continue, but a pullback is also possible if the RSI moves toward overbought territory (above 70).
MACD:MACD Indicator: The MACD lines are currently showing a mild bullish crossover, with the MACD line above the signal line. The histogram bars are positive, indicating that upward momentum is in place. This suggests potential continued upside movement, but confirmation with price action is needed.
Support/Resistance Levels:Resistance Levels: The key resistance level is near 0.09000. This level has been tested multiple times, and the price is now approaching it again. A breakout above this resistance could trigger a strong bullish move.Support Levels: The primary support level lies near 0.07259 (200 SMA). A break below this level would invalidate the bullish scenario and potentially indicate a trend reversal.
Bullish Scenario:If the price continues to hold above the 200 SMA and VWAP levels, and breaks above the 0.09000 resistance, we may see further bullish movement toward the next target around 0.10. The MACD and RSI support this scenario.
Bearish Scenario:A rejection from the 0.09000 resistance and a breakdown below the 200 SMA could lead to a bearish correction. If the price falls below the VWAP and the support level at 0.07259, a retest of lower levels could occur
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Trading cryptocurrencies carries significant risk, and you should conduct your own research or consult with a financial advisor before making any trading decisions.
