$PEOPLE

Current Price Action: The price recently dropped significantly by -4.67%, indicating potential bearish pressure.200-MA & VWAP Levels:The 200-Moving Average (MA) is at 0.06398, while the price is currently at 0.06572. This indicates that the price is still holding above the long-term moving average, which is often a positive sign of potential support.Volume Weighted Average Price (VWAP) is at 0.06772, suggesting that current trading activity is below this average level.

RSI Indicator:The Relative Strength Index (RSI) is at 33.24, which is very close to the oversold region (below 30). This implies that the asset may soon become oversold, hinting at a possible rebound in the near future.

MACD Indicator:The Moving Average Convergence Divergence (MACD) shows bearish momentum with both the MACD line and signal line below the zero level. The histogram values are negative, suggesting further downward pressure is possible in the short term.


Support: Around 0.06398 (200-MA), and another support zone is visible closer to 0.06. Breaking these support levels could lead to a sharp decline.Resistance: Near the VWAP level at 0.06772, a recovery would likely target this level as an important point of resistance.

A further move to test the support near 0.06398 is likely. If the price breaks below this level, 0.06 becomes crucial.On the other hand, if a bounce occurs due to oversold RSI conditions, the VWAP at 0.06772 will be the first resistance level to watch.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research before making trading decisions.

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