1. Upward trend line:
The blue line you drew connects the rising lows, indicating an upward trend in this timeframe.
Each pullback finds support near this line, reinforcing its technical relevance.
As long as the price action remains above this line, we can assume that the short-term trend is positive.
2. Moving averages (MA):
MA 7 (red) is slightly above MA 25 (green), confirming a bullish bias in the short term.
If these moving averages start to cross downwards, it would be a sign of weakening momentum.
3. Current resistance:
The price is facing resistance close to 1.70 - 1.75 USDT, where the bullish momentum seems to diminish. This coincides with previous peaks in this area.
A clear break above this resistance with volume could drive the price towards the psychological level of 1.90 USDT.
4. Key support:
Immediate support is near 1.65 USDT, marked by the trend line and recent lows.
If the price breaks below this line, we could expect a correction towards the levels of 1.50 USDT or even lower.
