Current technical analysis:
1. Moving Averages (EMA):
• Short-term averages (such as EMA 7 and EMA 25) appear to be in a bullish position, indicating that positive momentum may be strong.
• The 200 EMA appears as a major resistance in the future, and when it is broken, it may support the continuation of the rise strongly.
2. Relative Strength Index (RSI):
• RSI (6) appears near levels 59-63, which is not yet in the overbought zone, which means there is additional room to rise before signs of overbought appear.
• RSI 12 and RSI 24 levels also support the possibility of continued positive momentum.
3. MACD Indicator:
• MACD is showing gradual positive momentum with convergence of signal lines, which may indicate an approaching stronger bullish momentum if the momentum continues.
4. OBV (Overall Trading Volume) Indicator:
• The OBV indicator is rising, indicating buying support as new liquidity enters the market.
5. Stochastic RSI:
• Stochastic RSI levels are close to the overbought zone, which means there is a possibility of a slight correction in the short term, but the general trend remains upward.
6. Williams Index (Wm %R):
• It is in the -20 to -30 area, which is also close to overbought, but not yet at danger levels.
Expected scenarios:
1. The emerging scenario:
• If the price manages to break the next resistance levels (such as EMA 99 and EMA 200), a strong uptrend is likely as you expected.
• Potential upside targets:
• First level: 0.00112420
• Second level: 0.00115999 (major resistance).
2. Possible correction:
• If a correction occurs, the price may decline to nearby support levels such as:
• 0.00109083 (EMA 7)
• Or 0.00105000 (EMA 25).
3. Long-term momentum:
• As long as the price remains above EMA 99 and EMA 200, the overall trend remains positive in the medium and long term.
Recommendations:
• Purchase:
• Buy at nearby support levels (such as EMA 25 or EMA 7) if any correction occurs.
• Strong buy confirmation is when the resistance levels at 0.00112420 are broken.
• Risk management:
• Place stop loss below EMA 7 or nearby support (eg 0.00105000).
• Monitoring indicators:
• Follow RSI and MACD to avoid buying in case of overbought conditions.
Conclusion:
The general trend is clearly bullish and there is a strong upside potential if the next important resistance is broken. However, you should be careful of any short-term corrections and take advantage of them to enter the market.
