๐๐๐๐๐The provided chart shows several technical indicators and elements that can help in analyzing and making trading decisions on the MANTA/USDT cryptocurrency on the Binance platform.
1. Moving averages (MA)๐๐๐๐๐
MA (7, close, 0, SMA, 9): 1.724 ๐
MA (25, close, 0, SMA, 9): 1.663 ๐
MA (99, close, 0, SMA, 9): 2.440 ๐
Moving averages show the current average price for a certain period. The short-term (7-day) MA has crossed the medium-term (25-day) MA from top to bottom, which may signal a continuation of the downtrend. Also, the current price is below the 99-day MA, indicating a long-term bearish trend. ๐ป
2. Indicator Ishimoku
Kijun-sen (blue line): 1.639 ๐ต
Tenkan-sen (green line): 1.608 ๐ข
Senkou Span A and B form a cloud (red and green areas) โ๏ธ
The price is trading below the Ichimoku cloud, which confirms the bearish trend. Tenkan-sen is below Kijun-sen, which may serve as additional confirmation of the current downward movement. ๐ป
3. Trend Strength Index (TSI)
Significance: 0.741 ๐
The trend strength index is below 1, indicating a weak trend. This could mean that the current downtrend may slow down or become sideways. ๐
4. Parabolic SAR
Meaning: 1.450 ๐ด
The parabolic SAR is also above the current price, which is a bearish signal. ๐ป
5. Volumes
Average Volume (SMA, 9): 2.28M ๐
Trading volumes are relatively low, which may indicate a decrease in interest in this asset at the current price level. ๐
6. Graphic patterns
The chart shows the formation of a wedge pattern, which may indicate a potential reversal or continuation of the trend. If the level of 2.303 is broken, an increase to 4.084 and further to 9.233 is possible. ๐
Recommendations
Sell โโ(โฌ): In the short term, bearish signals prevail. If the price fails to stay above the 1.639 (Kijun-sen) level, further declines are possible. ๐ป๐
Buy (๐ผ): If the level of 2.303 is broken, you can consider buying with targets at 4.084 and 9.233. It is important to monitor volumes and confirming signals. ๐๐ค
Conclusion
At the moment, most indicators point to a bearish trend. Investors are advised to be cautious and monitor key support and resistance levels, as well as trading volumes, to confirm signals. โ ๏ธ
๐ Risk: High โ ๏ธ
๐ Potential: High when key levels are broken ๐น
Be careful and make informed decisions! ๐ผ๐
๐ป๐๐๐๐๐ค๐นโ ๏ธ
