According to the analysis of the LINA/USDT chart on an hourly basis, here are some observations for today:
Overall Trend:
• Current price: 0.006422 USDT, down 1.40% over 24 hours.
• The trend remains bearish, as shown by the configuration of the moving averages (MA9, MA20, MA50) which cross downwards.
Technical Indicators:
1. Moving Averages (MA):
• The MA(9) at 0.006595 is below the MA(20) at 0.006649 and the MA(50) at 0.006660, which confirms a bearish dynamic.
2. MACD:
• The MACD is in negative territory (-0.000033), with the signal line still above the MACD line. This reinforces the selling pressure.
3. RSI (Relative Strength Index):
• The RSI(7) is at 31.4, close to the oversold zone (30), indicating a potential technical rebound if buyers show up.
• The RSI(20) remains higher at 42.8, indicating overall market weakness.
4. Volume:
• Volumes seem to be slightly decreasing, which may signal a lack of conviction from buyers to reverse the trend.
Key Levels:
• Support: 0.006290 USDT (next key level observed).
• Resistance: 0.006709 USDT (average of purchase prices).
• If the price breaks below 0.006290, a new decline could occur.
Conclusion:
For today, the trend remains bearish with a limited technical rebound potential, to be monitored around the support at 0.006290 USDT. If buyers regain control, a return to 0.0067 is possible. However, confirmation with increasing volume is needed to validate a bullish recovery.
Suggested Strategy:
• Buy if price shows signs of rebounding at support with RSI rising above 35.
• Sell or remain cautious if price continues to decline below 0.006290 USDT.
