Technical analysis:
Bollinger Bands indicator:
Upper boundary (UP): 0.010359.
Average line (MB): 0.007925.
Lower boundary (DN): 0.005491.
The price is closer to the lower boundary, which may indicate oversold conditions. A bounce from this zone is possible, but confirmation of volume growth is needed for certainty.
Current dynamics:
Last price: 0.006644, which is below the average line of the Bollinger Bands, indicating a downward trend.
Support at the level of 0.005566 (minimum).
Volumes:
The latest candles show weak volume against the backdrop of a decline. If the volume does not increase, the likelihood of a reversal will be lower.
MACD indicator:
DIF: -0.000523.
DEA: -0.000298.
MACD: -0.000225.
The indicator is in the negative zone, confirming the dominance of the downward trend. Crossings of the signal line have not occurred yet.
Moving averages (MA):
MA(5): 0.007544.
MA(10): 0.006560.
Price is below MA(5) and MA(10), indicating a short-term bearish sentiment. However, the gradual approach of MA(10) to the price may signal potential consolidation.
Possible scenarios:
Bullish scenario:
If the price breaks the resistance at 0.0071 (the average line of the Bollinger Bands) with increasing volume, a return to the 0.0079–0.008 zone can be expected.
Bearish scenario:
In case of breaking the support level of 0.005566, further decline to 0.005 or lower is possible.
Neutral scenario:
The price may get stuck in consolidation between 0.006 and 0.0068. A significant impulse will be required to exit the flat.
Recommendations:
For buying, wait for confirmation of a reversal: growth in volume, consolidation above MA(5), and MACD moving into positive territory.
For selling or taking profit, watch key resistance levels (0.0071 and 0.0079).