Current situation on the chart:
COMBO/USDT is showing a downward trend on the daily timeframe, located inside a channel that has been going on for several months. The price recently tested the lower boundary of the channel and is currently trying to bounce up. However, overall, the asset is still under pressure, which is confirmed by its location below key moving averages.
Key support and resistance levels:
Support: $0.3225, $0.3894
Resistance: $0.4551, $0.5376, $0.5848
Indicator:
Ichimoku Cloud: The price is below the Ichimoku cloud, which confirms the bearish trend.
Bollinger Bands: Price is trading at the bottom of the Bollinger Bands, which may indicate possible further decline.
Parabolic SAR: SAR dots are located above the price, which also indicates a downtrend.
Forecast:
At the moment, the COMBOUSDT asset continues to move in a downward channel. If the price can overcome the resistance at $0.4551 and consolidate above, then further growth to the upper boundary of the channel in the region of $0.5848 is possible. However, if sellers continue to pressure, a breakout of the support level of $0.3225 may lead to further decline. 📊
Investors and traders are advised to exercise caution and keep a close eye on key levels as the asset remains in the risk zone. 😬
