PEOPLE/USDT Holds at Key Support: Will It Bounce Higher
$PEOPLE

PEOPLE/USDT is currently trading at 0.05262 USDT, showing a slight increase of +2.39% in the past 4 hours. The price is hovering around the VWAP of 0.05219 USDT, indicating there is some bullish sentiment as it stays above this level. However, it is still far from the 200-period moving average (0.06019 USDT), reflecting that the overall trend remains bearish unless the price can break past key resistance levels.

The RSI is at 38.27, indicating that the price is nearing oversold territory, which could be a signal of an upcoming reversal if buying pressure picks up. The MACD shows weak bearish momentum, with the MACD line at -0.00226 below the signal line at -0.00250, but the crossover is near, and bullish momentum could return if the price holds support.

Key support is at the current level of around 0.05219 USDT (VWAP). If the price holds above this, there could be a bounce toward the immediate resistance at 0.055 USDT. Should the price break below support, it could test the next significant level at around 0.045 USDT.

The second chart highlights that PEOPLE/USDT is sitting on a strong support zone, with multiple previous bounces from this level. A break above the consolidation zone could indicate a bullish reversal, while failure to maintain support could result in further downside pressure.

Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.

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