The price has been in a clear downtrend from the peak of 0.2372 until it reached the bottom of 0.1708.
Currently, the price has started to bounce back with a breakout of the 25 moving average (in blue), which is an initial signal of a change in trend in the short term.
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🔸 Technical Indicators:
1. Moving Averages (MA):
The price is above MA 7 (Red) and MA 25 (Blue), which is a positive signal in the short term.
However, it is still below MA 99 (Yellow) at 0.2168, which means that the upward trend has not yet been confirmed in the medium term.
2. Stochastic RSI Indicator (K and D):
Value K = 73.09 and D = 62.28: the trend is still upward, but it has entered the overbought area (above 70), and there may be a correction soon.
3. Trading Volumes (Volume):
There is an increase in buying volumes compared to previous periods, supporting the current rise.
4. OBV (On Balance Volume):
It is gradually improving, indicating real support in the upward price movement.
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🔹 Important Levels:
Nearest Support: 0.1820
Nearest Resistance: 0.1967 then 0.2113
Important Bottom: 0.1708 (should not be broken to continue rising)
Breaking MA99 (0.2168) will be considered a strong signal for a reversal in the general trend.
✅ Technical Recommendation:
If you are in the trade from a low price (close to 0.1708 - 0.1800), you can hold with a stop loss placed below 0.1700. #btc #CEXvsDEX101
The moving averages MA(7), MA(25), and MA(99) are all below the price => Upward trend.
Relative Strength Index RSI(6): at 82 => Overbought (a correction might happen soon).
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Quick technical analysis:
The price broke important resistances today with strong momentum.
Liquidity is high (strong trading volume), supporting the rise.
RSI is very high => Beware of a possible correction.
MA(7) and MA(25) indicate the continuation of the upward trend currently.
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Upcoming targets (if the rise continues):
1. First target: 0.0000590 (today's highest peak - very important resistance)
2. Second target: 0.0000650 (approximate Fibonacci extension based on recent movement)
3. Third target: 0.0000720 (psychological level and distant target)
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Important support areas:
First support: 0.0000500
Second support: 0.0000465
Strong third support: 0.0000415
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Current advice:
As long as the price is above 0.0000500, the situation is relatively safe.
If it breaks 0.0000465 downwards, we might enter a deeper correction wave.
The RSI indicator is high, so be prepared to take partial profits or monitor for reversal candles if they appear.
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Quick summary:
> The asset is in a strong upward state, but the RSI indicator warns of a potential correction soon. Set gradual sell targets and do not enter a buy now except with extreme caution.
Nearest resistance: 0.00001238 (highest price in 24 hours)
2. Technical indicators♥:
Moving averages:
EMA 7 (yellow): 0.00001196
EMA 25 (pink): 0.00001193
EMA 99 (blue): 0.00001208
The price is currently moving above the short-term averages and approaching EMA99, indicating a potential breakout of resistance if momentum is maintained.
RSI (6): around 58.7
This indicates that the momentum is bullish but has not yet entered the overbought territory (70), allowing room for a rise.
OBV: very low, indicating that the outflow of liquidity is still strong but has started to slow down.
3. Quick technical analysis♥:
We notice an attempt to break the 99 average, and if the price manages to hold above it, we may see an upward movement.
Potential targets:
First target: 0.00001238 (current resistance, partial profit taking)
Second target: 0.00001280 (previous resistance on the candle)
Third target: 0.00001360 - 0.00001410 (previous peak if the upward momentum continues)
Stop loss♥♥:
Breaking support at 0.00001136 with a clear candle and large trading volume is considered an exit signal.
Recommendation♥♥:
Enter cautiously if EMA99 is broken and holds above 0.00001210.
Monitor liquidity and RSI; if RSI exceeds level 65 with rising trading volume, the buying opportunity is stronger.
2.8736 (further support if previous levels are broken)
Resistances♥♥:
3.1191 (currently nearby resistance)
3.1540 (24-hour high, major resistance)
3.2140 (stronger resistance if the rise continues)
Indicators Analysis:
Moving Averages:
The current price (3.0911) is fluctuating around the MA7, MA25 and MA99 averages. This indicates that the market is in a volatility phase, and the price needs a clear breakout in one of the two directions.
SAR (yellow dots):
The dots are currently above the price, indicating a temporary downtrend.
RSI (Relative Strength Index):
At 49.70, it indicates relative neutrality, which means there is no overbought or oversold.
MACD:
MACD and DEA lines are overlapping with a low value, reflecting the current weak momentum.
Possible scenarios♥♥:
A break of the resistance 3.1191 could push the price to 3.1540 and then 3.2140.
A break of the support 3.0588 could lead to a drop towards 2.9963, which is a strong support.
If you are thinking of entering, it is better to wait for a clear break of one of the important levels with confirmation from indicators.
* Nearby Support: Nearby support is located around the $3.1582 level. This level may provide support for the pair in case of any downward correction.
* Nearby Resistance: Nearby resistance is located around the $3.2774 level. This level may act as a barrier for further gains, and we may see some volatility around this level before any potential breakout.
Technical Indicators * Relative Strength Index (RSI): The RSI indicates that the pair is in the buy zone, supporting the current bullish strength.
* Moving Averages: Moving averages indicate an uptrend, as the short-term moving average crosses above the long-term moving average.
* MACD Indicator: The MACD Indicator indicates strong bullish momentum, as the fast line crosses above the slow line.
Recommendations♥ * Short-term trading: Experienced traders can consider opening long positions above the nearby resistance level ($3.2774) with a stop loss order placed slightly below this level. * Long-term trading: The pair appears to be in an uptrend, making it attractive for traders looking for long-term investment opportunities.
$ADA Currency Analysis Hourly Frame/ Overview: Supports and Resistances: * Nearby Support: Nearby support is located around the $0.9508 level, a previously tested level that could provide some support to the pair in case the decline continues. * Nearby Resistance: Nearby resistance is located around the $1.0293 level, a level that the pair may struggle to break under the current conditions. Technical Indicators: * Relative Strength Index (RSI): The RSI indicates that the pair is in the oversold zone, indicating a possible short-term bullish bounce. * Moving Averages: The moving averages indicate a short-term downtrend, but there is some divergence between the averages, which could indicate a possible change in trend. * MACD Indicator: The MACD indicator indicates weak bearish momentum, but the lines are starting to converge, which could indicate a possible change in momentum. Recommendations♥♥: * Short-term trading: Experienced traders can consider opening long positions at the nearby support level ($0.9508) with a stop loss order placed slightly below this level. However, traders should be cautious given the uncertainty about the overall direction of the pair. * Long-term trading: It is advisable to wait for further clarification on the overall direction of the pair before making any long-term trading decisions.