#XAIUSDT #Update #XAIonBinance 1H Overview
PRICE ACTION:
• Current Price: $1.0245 as of the posting, indicating relatively decreasing market value.
• Volume: Fluctuating significantly, ranging from 335,749 to 6,126,237.
• ATR: Moderately high volatility at 0.0496.
TECHNICALS:
• RSI: 44.62 (Neutral)
• MFI: 56.06 (Neutral)
• CCI: -102.52 (Oversold)
• WR%: -91.70 (Oversold)
MOMENTUM:
• Bearish SMA
• ADI: -DI >+DI (Bearish)
• ADX: 17.69 (Developing trend)
• Bearish MACD
• Bearish PSAR
S/R LEVELS:
Support: $0.965
Resistance: $1.018, $1.070, $1.112, $1.194
With moderately high volatility, risk management is crucial for navigating potential price swings.
OVERALL CHART BIAS:
I see a potential bullish shark pattern forming with a retrace towards the 62% - 79% Fib level. Currently, it is testing the strength of the POC, as well as its 38% key support trendline. A break of both areas could lead to testing the strength of VAL to make its way deeper into the Fib’s golden zone.
Oscillator also shows a bearish median crossover, and we’ll have to wait more for more developing bearish volume.
My overall analysis indicates a cautious outlook for $XAI on its 1-hour chart. While oversold conditions point to potential buying interest, the prevalence of bearish signals necessitates vigilance, also considering its volatility from the past couple of days.