The following conclusions can be drawn from the CATI/USDT asset chart (4H):
Trend:
The asset is in a downtrend, which is confirmed by the price movement in a descending channel. The trend was established with a sharp drop, which began from a level of about $ 1.2 and reached current values ââââof about $ 0.41.
The chart highlights a 58.09% decline, indicating significant bearish pressure.
Ichimoku indicator:
The price is significantly below the Ichimoku cloud, indicating a continuation of the bearish trend.
The cloud ahead shows a red zone, which signals the weakness of the asset and a possible continuation of the decline.
Bollinger Bands (BB):
Bollinger Bands are narrowing, which may indicate a decrease in volatility. This could be a harbinger of consolidation or a sharp move in either direction.
The price is closer to the lower band, which indicates that the asset may be oversold in the short term.
Moving Averages (MA):
All key moving averages (7, 25, 99) are above the current price, confirming the bearish trend.
MA(7) is near the $0.4349 level, which is the nearest short-term resistance.
Parabolic SAR:
SAR dots are also located above the price, which supports the bearish trend.
Support and resistance levels:
The current support level is located around $0.41. If it is broken, further decline is possible.
Resistance levels are at $0.4349 and above, at $0.4725. A breakout above these levels may signal a possible upward correction.
Conclusion:
At the moment, the CATI/USDT asset is in a downward trend with bearish signals. It is necessary to closely monitor the $0.41 level. If this level is broken, further decline can be expected.
