1. Price forecast (short term, medium term):
Short term: The daily chart shows a sharp drop in price, indicating a strong downtrend. In the short term, an upward correction is possible, but the overall trend remains bearish.
Medium-term: The medium-term forecast also remains bearish, given the breakdown of the lower boundary of the Ichimoku cloud and EMA. The price may continue to decline to support levels, which will be indicated below.
2. Support and resistance levels:
Support:
The main support level is at 0.5668 USDT.
The next important support level is 0.4596 USDT.
Resistance:
The first resistance level is located at 1.1047 USDT (latest low).
The second resistance level is 1.1874 USDT.
3. Entry, exit, stop loss points for a long position:
Entry point: If the price starts to recover and breaks the 0.75 USDT level, you can consider going long with a conservative approach.
Exit point: Exit is possible at 1.10 USDT if the price reaches this level.
Stop Loss: Place your stop loss at a level below the current local low, for example, at 0.50 USDT.
4. Entry, exit, stop loss points for short positions:
Entry point: If the level of 0.5668 USDT is broken down, you can consider opening a short.
Exit Point: Exit possible at 0.4596 USDT or lower if there is further decline.
Stop Loss: Stop loss at a level above 0.75 USDT.
5. Long and short scenarios with probability assessment:
Long scenario: The likelihood of a recovery in the near future is low due to the general bearish trend and selling pressure. The probability of a successful long scenario is about 30-40%.
Short scenario: The probability of continued decline is higher, especially if the price breaks through support levels. The probability of a successful short script is about 60-70%.
Technical indicators and their impact on price:
LiquidationHeatMap Liquidation Levels: Liquidation levels can contribute to short-term price movements.
Volume: A sharp increase in volume on a downward move indicates increased bearish pressure.
Anchored Volume Profile: Indicates areas with the highest trading volumes, which may become resistance or support levels.
Ichimoku Cloud: The Ichimoku Cloud is showing a bearish trend, with a break below the cloud and no support above the current price.
Parabolic SAR: The location of Parabolic SAR points above the price confirms the downward trend.
EMA: The price is below both EMAs (50 and 200), which also confirms the bearish trend.
YK Round Levels: YK Round Levels were not marked on the chart, but if they were, they could serve as support or resistance levels.
RSI: The RSI indicator is in the oversold zone, which may indicate the possibility of a short-term correction.
