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We analyze the 4H chart.
1. Candle Chart:
- The price is in a consolidation zone after a decline from visible highs. There are small-bodied candles, indicating low volatility in the recent sessions.
- This could signal a pause in the downtrend or accumulation before a significant move.🚀
2. MACD (Moving Average Convergence Divergence):
- The MACD is in negative territory, confirming that the overall trend is bearish.
- However, the MACD and signal lines are very close and with little angle, suggesting a possible loss of bearish strength. A bullish crossover could occur if the price finds support.
3. RSI (Relative Strength Index):
- The RSI is at 40, indicating that it is not oversold, but still at relatively low levels. This reflects a weakness in bullish momentum, but not extreme.