The Bollinger Bands show that the price has dropped considerably and is close to the middle band, suggesting possible volatility.
MA(5) is at 16,441,697,462 and MA(10) is at 31,828,166,731. The MA(5) is below the MA(10), indicating a short-term bearish trend.
RSI(6) is at 40.746908, RSI(14) at 55.454940 and RSI(24) at 62.801937. The RSI values ââindicate that the currency is not in an extreme overbought or oversold zone, but is in a downtrend.
The chart shows a clear bearish trend in the short term, with technical indicators supporting this trend. The RSI is not in an extreme zone, suggesting that there could be more room for further decline in price.
Recommendation:
To foresee a possible collapse or further drop in price, it is important to monitor several factors:
Supports and Resistances: Identify key support levels that could act as a floor for the price.
Volume: If volume remains high and selling pressure persists, there could be further declines.
Remember that any significant news or event related to the currency could influence the price.
It is advisable to be cautious and consider the possibility of a further drop in price before making investment decisions.
Remember that this is not investment advice, it is just information, if you find it useful leave a like!!
