WIF/USDT Analysis [1D]
Current Trend: Bearish
Key Indicators:
Bollinger Bands: Wide bands, indicating high volatility. The price is moving towards the middle band.
Fibonacci Retracement Levels
Price is between 0.236 (1.9126) and 0.382 (2.4706).
Ichimoku Cloud
Price is below the cloud (bearish signal). Thin future cloud indicates limited support.
Moving Averages
MA 7 close: Price near short-term resistance.
MA 25 close: Price below mid-term resistance.
MA 99 close: Price significantly below long-term resistance.
Stochastic Oscillator
%K at 97.50 (overbought), potential price correction.
MACD
Positive crossover, potential bullish momentum, but MACD line below the signal line.
ADX
Value at 21.42, indicating a weak trend.
Balance of Power
Value at 0.70, indicating slight buyer control.
Market Depth
Support: Strong at 1.5658.
Resistance: Strong at 3.0992.
Recommendations
Long Positions: Consider entering around 1.5658 - 1.9126 with a stop loss below 1.5658. Confirm breakout above 2.4706.
Short Positions: Consider shorting near 2.4706 - 3.0992 with a stop loss above 3.0992. Confirm breakdown below 1.9126.
This summary captures the essential technical indicators and their implications for trading WIF/USDT.
Happy Trading!!!😇
**Not a financial advice**
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