Analysis and prediction for PEOPLE/USDT coin
1.Price and Trend
- The current price is 0.07136 USDT, down 5.21%.
- The market once peaked at 0.1440 USDT, and then fell sharply.
- After the fall, the price has corrected and tends to fluctuate sideways in the short term.
2. Moving Average (MA)
- The MA(5) and MA(10) lines are close to each other and MA(5) is cutting MA(10) from bottom to top. This may be a sign of a short-term bullish trend.
- However, the trading volume is not high, indicating that there may be a lack of strong buying momentum.
3. **MACD**:
- The MACD and the Signal Line are intersecting below, and the MACD is crossing up from below the signal line. This is a positive signal for an uptrend.
- However, the MACD histogram is near zero, indicating that the market may still be indecisive.
4. **RSI (Relative Strength Index)**:
- The RSI(6) is at 80.18, indicating that the market is currently overbought.
- The RSI(12) and RSI(24) are both above 50, indicating a positive signal, but not too strong.
5. **Stochastic Indicator**:
- K, D, and J are all above 80, indicating that the market is overbought. This could make a small correction possible.
**Forecast and Conclusion**:
- **Short term (next few days):** The price may continue to decrease slightly due to the overbought status of the RSI and Stochastic indicators. There may be a correction before continuing the uptrend.
- **Mid term:** If the current support level holds, the possibility of a medium-term price increase is possible, especially when the MACD line gives a positive signal.
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