$USUAL 1. Moving Average Analysis
EMA (7) in yellow: It is above the EMA (25) and both are close to the current price, indicating a possible short-term recovery, but without a strong trend.
EMA (99) in purple: It remains well below the current price, suggesting an uptrend in the medium term, but requiring confirmation.
Conclusion: The short-term trend is slightly upward, but without decisive strength. The price remaining close to the averages suggests a possible lateral accumulation.
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2. Current Price and Resistances
The current price of 0.6805 is below the recent high of 0.7325, which demonstrates a retracement after a recent peak (0.8977).
Immediate support: Around 0.6275 (low of the last 24h).
Immediate resistance: The value of 0.7325, which must be broken to confirm a new high.
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3. Technical Indicators
RSI (6): 50.80 – It is close to the neutral region, indicating a lack of predominant strength from buyers or sellers.
Stochastic RSI:
%K (81.69) and %D (73.09) indicate that the asset is almost overbought, which may suggest a pause in the rise or a slight correction.
Volumes: There was a recent spike in volume, possibly linked to the upward movement that took the price to 0.8977, followed by a decline in buying strength.
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4. Scenario and Forecast
Short term: The presence of close moving averages and the neutral RSI indicates a lateral movement or a possible consolidation between 0.6275 (support) and 0.7325 (resistance).
Medium term: If buying volume returns and the price breaks through 0.7325, it may seek the previous peak of 0.8977.
Attention: The Stochastic RSI in the overbought region may anticipate a slight correction before new highs.
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Final Conclusion
If there is an increase in volume and a break through 0.7325, a resumption of the rise can be expected.
Otherwise, the price may test the support at 0.6275 or consolidate sideways before a new significant movement.
Focus on volume and price reaction to resistance!
