Based on the 1-hour chart of FLUX/USDT, the price has shown some recovery after a recent downward trend, with the 200-period Simple Moving Average (SMA) currently acting as a resistance level at approximately 0.4852. The Relative Strength Index (RSI) is at 66.85, suggesting that the momentum is slightly on the bullish side but approaching overbought conditions. The Moving Average Convergence Divergence (MACD) indicator shows a slight bullish divergence, with the MACD line at 0.0018 and the signal line at 0.0005, indicating potential upward momentum, but not yet a strong bullish signal.
The key level to watch is the 0.5520 resistance. If the price can break above this level with strong volume, it could lead to a continuation of the bullish trend. On the other hand, if the price fails to break this level and reverses, it could indicate a retest of lower support levels, particularly around 0.4852, or even lower if selling pressure increases.
In summary, the immediate trend is cautiously bullish, but the price needs to overcome key resistance levels for a more definitive bullish scenario. If rejected at resistance, bearish scenarios could see a pullback to test support levels.
Disclaimer: This analysis is based on current market conditions and indicators. Cryptocurrency trading involves substantial risk, and past performance is not indicative of future results. do your own research before making any trading decisions.
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