1. Price action:
The price shows a clear rise followed by a decline and currently stabilizes at a certain level ($1.825).
The moving averages (MA7, MA25, MA99) are close together, indicating limited volatility in the current movement.
2. Relative Strength Index (RSI):
The RSI value is around 45.564, which means the market is neither in an overbought (above 70) nor oversold (below 30) zone.
This indicates a balanced price action with no strong momentum at the moment.
3. MACD Indicator:
The lines (DIF and DEA) are very close to zero, reflecting a balance between buyers and sellers.
The histogram shows weak momentum, which may indicate a potential big move ahead.
4. Market trend:
Based on the current price stability, the market appears to be in a consolidation phase, preparing to take an upward or downward direction.
Expected scenarios:
Positive scenario:
If the price breaks the resistance at $1,876 with an increase in trading volume, we may see a continuation of the upside.
Negative scenario:
If the price breaks the support at $1.793, it may drop to lower levels.
Stability:
If the price keeps moving between 1.793 and 1.876, the market is in a waiting phase for new news or stimulus.
Recommendations:
Close monitoring: Follow the mentioned support and resistance levels.
Trade with caution: Use stop loss orders to avoid any sudden fluctuations.
Rely on the news: Make sure to follow any news or announcements that may affect the movement of STX/USDT.
What do you expect? Which of these scenarios will happen?
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