The currency is in a short-term downtrend, losing about 9.68% of its value in 24 hours.
The current price is at $0.0009582, which is close to the last 24-hour low of 0.00094006.
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2. Technical indicators:
MACD:
Indicates bearish momentum.
The distance between the two lines is widening, which means selling pressure is continuing.
RSI (Relative Strength Index):
A reading of 21.5 indicates that the currency is in an oversold zone. This could mean a potential rebound if buyers enter the market.
Moving Averages (MA):
MA10 is below MA5, which indicates a continuation of the short-term downtrend.
The current price is below both averages, which reinforces the negative signal.
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3. Support and Resistance Levels:
Nearest support: at 0.00094, which is the lowest price in the last 24 hours.
Nearest resistance: at 0.00108, which was tested in the last attempt to bounce but failed.
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4. Trading volume:
24-hour trading volume: shows a relatively high level, indicating high activity, but accompanied by high selling pressure.
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Conclusion and recommendations:
For speculators:
It may be a good idea to wait for a clear bounce signal, such as a break of the resistance at 0.00108 or an RSI rise above 30.
If you are looking for an entry, the support area at 0.00094 may be suitable with a close stop loss order.
For investors:
The currency shows high volatility, so it is advisable to invest with caution
