At the moment the price of the ALT asset
continues to be under pressure, trading at $0.0926, reflecting a 1.70% decline over the past 24 hours đ. Despite this, we can see a potentially interesting technical pattern forming, which could indicate a possible price recovery in the future.
Technical indicators:
MA (Moving Average): The moving averages MA (7, 25, 99) show a downward trend. MA (7) crosses MA (25) and MA (99) from top to bottom, which confirms the bearish trend.
Ichimoku indicator: The Ichimoku Cloud (Kumo) continues to provide resistance at $0.1198, indicating further pressure on the price. However, if the price can break through this level, we can expect a strengthening of the bullish momentum đ.
SAR (Stop and Reverse): The parabolic SAR is below the current price, indicating a possible start of a bullish trend. This signal requires confirmation from other indicators and a breakout of key resistance levels.
Support and resistance levels:
Support: The key support level is at $0.0662. A break below this level could strengthen the bearish sentiment and send the price towards the next support at $0.0106.
Resistance: It is important to note the key resistance at $0.1198, which coincides with the upper boundary of the Ichimoku cloud. A break of this level could signal a reversal and a potential price increase to $0.6955, which would be almost 960% of the current price.
Result:
The current situation for the ALT asset shows that despite the downward trend, there is potential for a reversal and subsequent growth. It is important to monitor key support and resistance levels, as well as signals from technical indicators that can help determine the further direction of price movement.