Overall Trend:
TRUUSDT has shown signs of potential bullish recovery, with prices climbing above the 200 SMA at 0.082, which indicates an improving sentiment among buyers.
The price is currently testing a descending trendline resistance, which has capped previous upward movements since mid-year.
Support and Resistance Levels:
Immediate Resistance:
The 0.110 - 0.115 range is the immediate resistance level. A breakout above this zone could lead to a continuation toward 0.130 - 0.135, the next key level.
Immediate Support:
Support is found at 0.095 - 0.100, which previously acted as a consolidation zone before the recent upward push.
Key Demand Zone:
A strong demand zone lies between 0.080 - 0.085, reinforced by the 200 SMA and multiple successful defenses at this level.
Technical Indicators:
RSI (Relative Strength Index):
The RSI is currently at 65.55, approaching the overbought territory. This suggests that the price might face a temporary slowdown or retracement.
MACD (Moving Average Convergence Divergence):
The MACD line is above the signal line, with a bullish histogram, confirming momentum is in favor of buyers. However, the histogram's narrowing indicates the momentum may be losing some strength.
Volume Analysis:
The volume at 34.024M shows active participation in the recent breakout. Sustained volume is crucial to confirm any further bullish movement.
Cluster and Zone Analysis:
Demand Zone: The highlighted 0.080 - 0.085 area remains a key level for buyers to defend during potential retracements.
Resistance Zone: The 0.110 - 0.115 cluster is critical, as it has acted as a strong rejection point in previous rallies.
TRUUSDT is at a critical juncture, testing significant resistance at 0.110 - 0.115. A successful breakout could confirm a trend reversal and open up higher targets. However, caution is warranted as RSI suggests overbought conditions. Traders should monitor for volume confirmation and observe support levels at 0.095 - 0.100 for potential pullback opportunities.