$PEOPLE Will decline to 0.05 soon:
A decline to 0.05 USDT is possible, but let's assess how likely that scenario is based on the current chart indicators:
Analysis for a Drop to 0.05 USDT:
1. Key Support Levels:
Immediate Support: 0.07150 USDT (near EMA(7)).
Next Support: 0.06500 USDT (near EMA(25)).
If these levels break with strong selling pressure, a deeper decline could occur.
2. Price History:
The previous low was around 0.05457 USDT.
A drop to 0.05 USDT would mean revisiting this support area and breaking below recent lows, which often requires significant bearish momentum.
3. Bearish Indicators:
The Stochastic RSI in the overbought zone indicates a correction could be due.
If volume starts increasing on red candles, it would suggest strong selling pressure.
Conclusion:
A drop to 0.05 USDT is possible, but it will likely need to break through multiple support levels (0.07150 and 0.06500) first.
If these supports are broken with high selling volume, then 0.05 USDT could be the next target.
Recommendation: Monitor the 0.07150 and 0.06500 support levels closely. If they break, it could be a signal to expect further decline towards 0.05 USDT.
