#SANTOS/USDT Technical Outlook: Preparing for the Next Move
The SANTOS/USDT pair is currently trading at 2.808, slightly below the VWAP (Volume-Weighted Average Price) level of 2.813, which suggests the price is struggling to gain bullish momentum. The 200-period Simple Moving Average (SMA) is positioned at 2.654, and the price is currently above this level, indicating a possible short-term bullish sentiment.
RSI (Relative Strength Index): The RSI is at 59.17, which is in the upper neutral zone, indicating a moderately bullish sentiment. It is not yet in the overbought territory, suggesting there may still be some room for upward movement before hitting resistance.
The MACD shows a bullish crossover, with the MACD line above the signal line and a positive histogram. This indicates that bullish momentum is building, although the histogram is not significantly large, reflecting moderate buying pressure.
Bullish Scenario:
If the price maintains above the 200-period SMA at 2.654 and sustains above the VWAP level of 2.813, it could signal continued bullish momentum towards the next resistance level at 3.219. A strong breakout above this resistance, especially with increased trading volume, could push the price higher towards 3.329 or even beyond, confirming a bullish trend reversal.
Bearish Scenario:
On the downside, if the price fails to stay above the VWAP and 200-period SMA levels and declines further, it could retest the immediate support at around 2.654. A break below this level might confirm a bearish trend, targeting further downside support levels at 2.467 or lower.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves high risk and may not be suitable for all investors. Always conduct your own research and consult with a financial advisor before making any trading decisions.
