Analysis of the hourly frame♥:$ADA
1. Current price and trend:
Current price: 1.0615 USDT, down 3.32%.
Current general trend: Down as evidenced by the price falling below the moving averages (MA).
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2. Moving averages:
MA(7) (red line): at 1.0729 - short-term indicator showing that the current price is below the average, which supports the continuation of the downtrend.
MA(25) (blue line): at 1.1010 - shows that the price is far from the resistance level at this average.
MA(99) (yellow line): at 1.0862 - the long-term average is also above the current price, confirming weak purchasing power.
3. Parabolic SAR Indicator:
Yellow dots appear above the price candles, confirming the current downtrend.
This indicator acts as a dynamic resistance, meaning that the trend is still negative until dots form below the candles.
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4. Relative Strength Index (RSI):
RSI(6) at 22.8104:
The indicator is in the oversold zone (below 30), which means that the price may be poised for an upward bounce soon, especially if additional confirmation signals appear.
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5. MACD Indicator:
DIF (-0.0115) and DEA (-0.0064): Both values are negative.
MACD Histogram shows a negative bar below the zero line, which means that the bearish momentum is still in control.
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Support and resistance points♥♥♥:
1. Current support:
1.0550 (24-hour low).
The most important support is around the 0.9961 level.
2. Current resistance:
1.0862 (average MA(99)).
1.1010 (MA(25) average).
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الملخص⇐:
The general trend is down, with oversold signals from the RSI indicator.
The negative momentum is still in place according to the MACD indicator.
Nearby resistance is at 1.0862 and major support is at 1.0550.
If the price bounces up, the moving averages should be watched as resistance levels.
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Recommendations♥♥♥♥:
1. Wait for clear bounce signals such as a rising RSI or price crossing a resistance level.
2. If you are thinking of buying, it is better to wait for a break of the resistance at MA(7) or positive MACD signals.
3. Risk management is important when entering this downtrend.
#btc $$
