$MTL /USDT

Analyzing the recent price action on the 4-hour chart, we observe that the price reached a high of 1.674 before retracing to its current level of 1.380. The immediate support level can be identified around 1.205, which aligns closely with the 99-period moving average (MA), currently at 1.236. This moving average serves as a significant indicator for long-term trends.

The 7-period (yellow line) and 25-period (pink line) moving averages provide insight into shorter-term trends. The 7-period MA at 1.433 acts as a nearby resistance level, while the 25-period MA at 1.263 offers support. The price recently tested and rebounded from this support level, suggesting strong buying interest.

Volume analysis shows a notable increase during the recent upward movement, indicating heightened market participation and a potential shift in momentum. However, the recent pullback highlights the importance of monitoring resistance levels at 1.433 and 1.457.

For traders, it is crucial to watch for a break above the 1.433 resistance level, as it could signal a bullish continuation towards retesting the recent high of 1.674. On the downside, maintaining support above the 1.205 level is essential to prevent further declines.

In summary, the price is navigating between critical support and resistance levels. Close monitoring of these levels and volume trends will provide better insights into future price movements and potential trading opportunities.#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide #BinanceTournament #Megadrop