PEOPLE/USDT Asset Analysis: Current Trends and Opportunities
The PEOPLE/USDT asset on the daily timeframe shows a moderate uptrend with a recent decline. Let's look at the current chart features and potential trading levels:
Trend channel: The price continues to move in an ascending channel, which indicates positive buying pressure. The price is now at the lower border of the channel, which may serve as a point for a possible upward reversal.
Indicator:
SMA and EMA: The price is holding around the 7-day SMA (0.07878) and 25-day SMA (0.07798), which shows some uncertainty. The 99-day SMA at 0.06778 serves as the main support.
Parabolic SAR (0.09090) is above the current price, indicating bearish pressure.
Bollinger Bands: The widening Bollinger Bands show increased volatility. The lower band at 0.06988, which also coincides with the lower line of the channel, may act as support.
Ichimoku indicator: The Ichimoku cloud gives a mixed signal. The price is near the cloud, which indicates market uncertainty. However, the lower boundary of the cloud may serve as support for a possible upward rebound.
Key levels:
Support: The main support is located at 0.07124 and 0.06988, where the lower channel line and the lower Bollinger band pass.
Resistance: The nearest resistance is at 0.08110 (cloud top) and there is a higher level at 0.09090 (Parabolic SAR).
📊 Conclusion:
The PEOPLE/USDT asset is in the key zone of a possible rebound. If the price holds at support levels, an upward reversal within the ascending channel is possible. However, if the lower line of the channel is broken, we should expect increased bearish pressure and further decline.
