The price is at 22.767, up slightly by 0.21%.
We see that the price has fallen sharply and now appears to be trying to recover, with possible ascending bottoms forming.
A resistance level is indicated at 23.740, where a “Sell Limit” order is in place.
Immediate support is near 22.322, which is the recent low.
A break of the 23.740 resistance could indicate a resumption of the upside, while a loss of the 22.322 support could lead to a sharper decline.
The RSI is at 46.50, indicating that the asset is neither overbought nor oversold.
However, the RSI is below 50, suggesting a slight bearish bias. If the RSI continues to rise and breaks above 50, it could signal a possible trend reversal.
Volume spiked during the decline, indicating selling pressure. However, there is an attempt at recovery with moderate volume.
If volume increases in conjunction with a resistance break, this could indicate a trend change.
The asset is in a consolidation zone after a fall. The recovery will depend on the break of the resistance at 23.740 with increasing volume and the RSI surpassing the 50 mark.
In case of a fall, it is important to monitor the support at 22.322, as a loss of this level could intensify the downtrend.
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