1. Main chart analysis (Candlestick and Bollinger Bands)
Last Price: 656.83 USDT.
Bollinger Bands:
Upper band: 664.57
Middle band (EMA): 660.25
Lower band: 648.85
Currently, the price is moving around the moving average, within the bands, indicating a possible consolidation. A break above the upper band could signal a bullish move, while a break below the lower band could indicate a bearish move.
Recent trend:
A lateral movement has been observed in the last 12-16 candles, with slight attempts to break above 660. However, recent highs do not exceed 664.91, indicating a key resistance.
2. Additional technical indicators
MACD:
MACD line: 1.21
Signal: 1.03
Histogram: 0.18
This crossover indicates a slight emerging bullish strength, although it is still not strong enough to confirm a sustained trend.
Stoch RSI:
%K: 42.26
%D: 25.15
This indicates that it is exiting an oversold area. It is an early signal of possible bullish momentum, but it is not conclusive until it exceeds values close to 50.
RSI:
Current value: 58.39
The RSI is at a moderate level, indicating no extreme overbought or oversold conditions.
3. Volume analysis
Recent volume is low compared to previous peaks, at 110.967K. This suggests lesser market participation in this price range, which may change if there is a significant breakout.
Order book analysis.
Highlighted buy blocks (demand):
Level 650: 2,040,311.00 USDT, a key support.
Level 654: 1,134,925.45 USDT.
These levels show high accumulation of buyers, with level 650 being a key area for potential defense in case of a drop.
Highlighted sell blocks (supply):
Level 658: 839,772.50 USDT, immediate resistance.
Level 665: 801,424.75 USDT.
These levels represent supply barriers, with level 665 being a strong resistance to overcome.
Trend projection for 1-3 days
Possible bullish scenario:
If the price breaks above 658 with increasing volume and surpasses 665, it could head towards 670-675. The bullish crossover of the MACD and the exit of the RSI from the mid-range would support this trend.
Possible bearish scenario:
If the price falls below the support at 650, it could seek lower levels, such as 645 or even 640. This would be reinforced if the Stoch RSI re-enters oversold territory.
Conclusion:
Based on the indicators, there is a slight preference towards a bullish scenario, but confirmation is pending upon surpassing 658. The current low volatility and accumulation at 650 suggest that the price is consolidating before a more defined move. It is key to monitor the volume to validate any breakout.
is consolidating before a more defined move. It is key to monitor the volume to validate any breakout.
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