1. General trend:
The current price is at $0.04139 and the overall trend seems to be bearish over the recent time periods.
There are signs of the price trying to stabilize at nearby support areas ($0.04131), which is the lowest level in the current time frame.
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2. Support and resistance areas:
Support areas:
Strongest support at $0.04131.
If this support is broken, the price could drop to $0.04100 or lower.
Resistance areas:
The first resistance is at $0.04150.
The next resistance is at $0.04175 if the bullish momentum continues.
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3. Technical indicators:
MACD Indicator: It appears weak with its lines converging, indicating market indecision.
STOCH RSI Indicator: Indicates that the price may be in a semi-oversold area (a slight bounce may occur if the buying pressure continues).
Moving Averages (MA5 and MA10): The price is below the moving averages, confirming the downtrend.
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4. Forecasts until the end of January:
If the price manages to hold the support level at $0.04131, we might see some positive moves towards $0.04150 or higher.
If the support is broken, the price can continue the downtrend to reach lower levels, such as $0.04050 or $0.04000.
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Advice for investors:
For speculators: Wait for a strong buy signal at support areas while monitoring the trading volume.
For long term investors: Do not enter the market now unless the uptrend is confirmed (clear resistance is broken).
Markets are always volatile, so it is advisable to follow the news and technical indicators closely before making any decisions.