$RARE RARE/USDT Analysis:
1. Current Price:
• Price at 0.1180, up +3.24%.
• Current resistance at 0.1186 (24-hour high).
2. Technical Indicators:
• Moving Averages (MA):
• Price has broken MA(7) and MA(25) upwards, indicating strong bullish momentum.
• MA(99) is very close to the current price at 0.1184, and could form a short-term resistance.
• RSI (Relative Strength Index):
• RSI(6) at 77.80 indicates overbought zone.
• RSI(12) and RSI(24) are lower, which could support the continuation of the rise if momentum increases.
• MACD:
• Positive values with the beginning of a bullish crossover, which supports the continuation of the uptrend.
• Trading volumes:
• A clear increase in trading volume indicates support from buyers for the rise.
3. Recommendation:
1. Bullish scenario:
• If the price breaks the resistance at 0.1186 steadily with an increase in trading volumes, 0.1200 levels or higher can be targeted.
2. Correction scenario:
• In case of failure to exceed the resistance or continued overbought (RSI), a correction towards the support levels at 0.1157 or 0.1117 may occur.
3. Recommendation:
• Buy: Upon a clear break of the resistance at 0.1186 while monitoring the momentum.
• Sell or take profit: If signs of weakness appear at the resistance or upon a pullback towards the support levels.
Note: Risk management is necessary with a stop loss below the nearby support level.