Get ready for the Next Wave Guys $BEL /USDT

Short Time price flactuation

Entry : 0.60$

stop loss: 0.58$

Target 1 : 0.66$

Target 2 : 0.70$

Target 3 : 0.75$

you can open long positon with 10x leverage

Here is Why?

Here’s a technical analysis on BEL/USDT

Time frame: 1 day

2. MACD:

MACD Line (DIF: -0.0518) is below the Signal Line (DEA: -0.0300), showing strong bearish momentum.

Negative histogram bars continue to expand, confirming the ongoing sell-off.

3. RSI (Relative Strength Index):

RSI is at 24.5, well below the oversold threshold of 30. This suggests that the asset is heavily oversold, and a short-term bounce might be expected.

4. Volume:

High volume during recent sell-offs confirms strong selling pressure. However, a decrease in selling volume might indicate weakening bearish momentum.

5. Moving Averages (MA):

The price is significantly below the 5-day MA (0.7765) and 10-day MA (0.7690), confirming bearish momentum.

The steep slope of these moving averages suggests strong downward pressure.

Support and Resistance:

Support: The price is testing a psychological support level near $0.6000. A break below could lead to further downside toward the $0.5096 level (previous key support).

Resistance: Immediate resistance is at $0.6500 (recent consolidation level) and further at the middle Bollinger Band around $0.7690.

Outlook:

1. Bearish Scenario:

If the price continues to trade below the lower Bollinger Band without recovery, it may test lower support levels, particularly near $0.5096.

Watch for MACD and RSI signals to confirm prolonged bearishness.

2. Bullish Scenario:

A potential rebound could occur due to the oversold RSI.

A break above the lower Bollinger Band and $0.6500 would indicate recovery, but stronger confirmation would be a move above $0.7690 (middle band).

Strategy:

For Buyers:

Consider entering if there are bullish reversal signals, such as RSI moving back above 30 or a MACD crossover. Set a tight stop-loss below $0.6000.