Current Observations:
1. Price Movement:
- Current price: $0.7175.
- The price is trending near a critical support zone around $0.7100.
2. Volume:
- Volume seems to have decreased compared to earlier levels, indicating weaker participation.
- Watch for a spike in volume to confirm the next price direction.
3. RSI:
- RSI(6) is at 52.17, which is neutral. This indicates that the market is neither overbought nor oversold.
4. Moving Averages:
- MA(5): $0.7179.
- MA(10): $0.7218.
- The price is trading below both the short-term moving averages, indicating a bearish trend.
5. Support and Resistance:
- Support: $0.7100 and $0.7024 (24-hour low).
- Resistance: $0.7306 and $0.7425.
Potential High and Low Targets:
- Low: $0.7100 (next support) and $0.7024 (strong base level).
- High: $0.7300 (immediate resistance) and $0.7500 (potential recovery point if momentum builds).
Market Behavior (Whale Analysis):
- Order Book Patterns:
- Significant buy orders are visible at $0.7170 and below, suggesting whales accumulating at lower levels.
- Sell walls are concentrated around $0.7300–$0.7400, indicating resistance in that range.
- Big Holders Strategy:
Whales may be waiting to accumulate more at $0.7100 or push the price up post-accumulation.
Recommendation:
1. For Buyers:
- Consider entering near $0.7100 with a target of $0.7300–$0.7500.
- Use a stop-loss below $0.7000 to manage risk.
2. For Holders:
- If the price holds above $0.7170, there is potential for upward movement.
- Monitor $0.7300; if the resistance breaks, expect a move toward $0.7500.
3. For Sellers:
- Consider profit-taking at $0.7300 or $0.7400 based on your entry point.
Keep monitoring market sentiment and whale movements for potential breakouts or further dips.