1. Candle movement
Strong previous downtrend shown by long red candles.
There is an attempt to stabilize in a narrow range between 0.08410 and 0.08450 after the price reached 0.08253 (lowest level).
The current sideways movement indicates indecision between buyers and sellers.
2. Moving Averages (MA):
The red line (long-term MA) is still pointing down, reflecting the ongoing downtrend.
The black line (short-term MA) is trying to hold near the current price, but is still below the longer-term MA.
The price being below the averages indicates a weakness in the upward momentum.
3. MACD Indicator:
The MACD line (yellow) is below the signal line (orange), indicating that selling strength still exists.
The values are slightly positive but the momentum is weak (timid rise from negative territory).
Small green bars indicate a decrease in selling pressure but without clear upward strength.
4. Volume:
There is a significant increase in trading volumes on a sharp bearish candle (strong sell signal).
Current volumes are low, indicating a lack of significant market reaction (indecision).
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Expectations:
Potential downside: The overall trend is down, with the price remaining below the major moving averages and no clear buying power.
Nearest support: 0.08250 (if this level is broken, we may see a deeper decline).
Nearest resistance: 0.08500 (any rise above it may indicate a temporary change in trend).
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Recommendations:
1. Sell when rising towards the resistance (0.08500) with a stop loss above it.
2. Buy cautiously at strong support levels (0.08250) in case strong reversal signals appear (such as reversal candles or increased buying volumes).
3. Monitor indicators such as MACD and moving averages to ensure that new bullish momentum is emerging.
Focusing on risk management is important in this situation, especially with the current weak price action.
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