$1MBABYDOGE Here's the analysis based on the visible data:
1. Current Price: The current price is 0.0034197, which is near the 0.236 Fibonacci level. This indicates a consolidation phase after a significant drop from the recent high.
2. Trend:
The price is trading below the short-term (MA7) and medium-term (MA25) moving averages, indicating bearish momentum.
The price is close to the MA99, which could act as support if the trend reverses.
3. Fibonacci Levels:
The price previously found resistance around 0.618 and is now near the 0.236 level.
A breakdown below 0.236 (around 0.0038203) could indicate further downside.
4. Volume: The trading volume appears to be declining, which may suggest a lack of momentum in either direction.
Suggestion:
Buying: Consider buying only if the price holds above the MA99 or bounces back from the 0.236 level with increased volume.
Selling: If the price breaks below the 0.236 level, it may indicate further bearish momentum, making it better to sell or wait for a lower entry point.
Keep an eye on market news and the overall trend of cryptocurrencies, as external factors can heavily influence price action.