Support: The support line appears to be at 0.2817, which is the last point where the price made a significant pullback before moving higher.
Resistance: The immediate resistance is at 0.3397, which is the highest point reached recently. If broken, the next potential target would be around 0.38.
-- 2. Moving Averages (MA)
The MA(7) (0.3049) and MA(25) (0.3147) indicate a short-term uptrend, with the price trading above them.
The MA(99) (0.3062) is acting as dynamic support, validating the bullish move.
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3. RSI Indicator
The current RSI at 70.6 indicates that the coin is overbought, suggesting a possible period of consolidation or a small correction before resuming a rally.
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4. Trading Volume
The current volume is strong, indicating significant interest from buyers. If the volume continues to rise, there is a good chance of breaking through the resistance.
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5. Candlestick Formations
The last candlesticks indicate optimism from buyers, with closes close to the daily highs.
The current formation can be interpreted as a continuation pattern, but it is essential to monitor future candlesticks for confirmation.
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6. Short-Term Forecast (until the weekend)
Bullish Scenario (Breakthrough Resistance): If the volume remains high and the RSI manages to sustain levels above 70, the price may break through 0.3397 and reach the 0.38 range.
Bearish Scenario (Breakout of Support): If the price breaks below the support line at 0.3062 (MA99), the next target would be at 0.2817.
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Conclusion
The coin is more likely to rise in the short term, but the overbought RSI may trigger a temporary correction before moving to new highs. Monitoring dynamic support (MA99) and volume will be essential to confirm the continuation of the move.
YOU, BEGINNER... Don't know where to start investing and start building your multi-million dollar wealth?!! ā¢ ā¢ I will introduce you to some essential topics for your gain! SHORT and LONG TERM! ā Short Term (Day Trade and Swing Trade)
1. Technical Analysis
Use tools like moving averages (MA), RSI, MACD, Fibonacci and Bollinger bands.
Identify chart patterns such as triangles, flags, and head and shoulders.
$BTC Get ready, #Bitcoin is about to break $97k! For veterans, a historical milestone that proves their strength; for beginners, the chance to join the market's biggest rally. The future is nowādon't miss out on this epic rise!
1. Leverage Method for those who are brave enough to take risks!
Leverage allows you to multiply the investment value using funds borrowed from the exchange, increasing the potential for profit (or loss). For example, with $50 and 10x leverage, you control $500 in the market. If the asset rises 10%, you earn $50; but if it falls 10%, you could lose everything. It is essential to use tools such as stop-loss to limit losses. This method is risky and ideal for those who accept the possibility of significant losses.
2. Safe Investment for Cautious Beginners
For a more conservative beginner, the ideal is to invest $50 in more stable currencies, such as Bitcoin or Ethereum. These cryptocurrencies have greater global acceptance and lower volatility compared to altcoins. The strategy is to buy and hold (HODL) for the long term, taking advantage of consistent appreciation over the years. This method reduces risk and requires less active management.
Today, November 20, the cryptocurrency market suffered a sharp drop, the result of a combination of economic and behavioral factors that often affect the sector. For beginners, it is important to understand that moments of volatility are common in the crypto market, and these movements usually stabilize over time.
The main reasons for the recent drop include:
1. Global economic conditions: Rising interest rates in the United States and other economies are leading investors to seek safer assets, such as government bonds, reducing interest in cryptocurrencies, which are more volatile.
2. Market sentiment: Negative news or uncertainty can trigger mass sell-offs, creating a downward spiral in prices.
3. Crisis of confidence: The lack of clear regulation in many countries and the growing number of questionable or unsound projects can shake investor confidence.
Despite this volatility, it is essential to remember that the market has already experienced several "crypto winters", periods of significant decline that were followed by consistent recoveries. Experienced investors recommend:
Avoid impulsive decisions: Do not sell during market panics.
Split investments: Buy gradually, reducing the impact of volatility.
Focus on the long term: Solid projects tend to appreciate with market maturity and increasing adoption.
If you are investing, stay calm, analyze the fundamentals of the projects and remember that volatility is part of the cryptoasset scenario.
$NEIRO Update on #NeiroOnBinance The Ethereum blockchain-based Neiro coin has seen a sharp drop recently due to a combination of market factors. One of the main reasons was a significant increase in āage consumedā ā a metric that indicates the movement of long-term held coins. This suggests that long-term investors have decided to sell their holdings (DONāT SELL), intensifying the selling pressure. In addition, the inflow of tokens to exchanges has increased by 158%, which often indicates that more holders are seeking liquidity to sell their assets.
*December/January Forecast*
The coin is currently trading around $0.00175 and faces significant resistance to break above the $0.0024 mark. Analysts indicate that if demand does not recover, the price may fall further to around $0.0014 ~ $0.00135.
On the other hand, if there is an increase in buying interest and improvement in market sentiment, Neiro may attempt to regain its previous peak of $0.0031 or higher.
$USUAL I'll explain a little about "what" is happening with #usual Usual may be weak but IT IS NOT A SCAM!
1. During the pre-launch (on platforms like Binance Launchpool), tokens are distributed in a limited manner and at affordable prices to encourage initial adoption. Those who participate in staking obtain the tokens at reduced costs, creating an initial base of holders.
2. Limited Supply and Increased Demand: At the time of the official launch, the supply of tokens available for purchase on the market is limited. Thus, with the increase in demand, the price rises rapidly, driven by the dynamics of supply and demand.
3. Token Dump: Many early investors who acquired the tokens at low prices in the pre-market sell their holdings shortly after the launch, causing price fluctuations. This practice is known as a ādumpā and can result in an initial drop in price before eventually stabilizing.
4. Perceived Pre-Market Devaluation: In pre-market trading, the price displayed for the coin may be different from the final trading price at launch. This is because the initial displayed price reflects a theoretical or staking value, which changes rapidly once the coin enters open trading.
5. Lack of Investor Planning: Many people do not understand these dynamics and expect to buy the coin at launch at the lowest price. However, when trading begins, the rapid increase in demand causes the price to skyrocket, creating frustration for those who did not anticipate the pre-launch.
$NEIRO What else do I need to tell you to convince you that NEIRO can make you a millionaire?!! In this world of cryptos, everything follows a pattern, between highs and lows. This will be my 3rd call for you to take a šš ride with #NEIRO You'll know where you'll end up after the next high, don't miss it!
$NEIRO I was surprised by this recent rise... I was expecting this rise in November/December. Those who followed my advice to buy when it was at 0.00168 made good money... Stay tuned to the market.. $BTC has the power to carry other currencies to the Moon!! #BitcoinHodlers #NEIRO
*One observation* #NEIRO is based on the etherum network... if #ETH is not doing well, it is a sign that the coins "dependent" on this network will stop their rise some time later. But as I always say... LOOK at the graphs, they don't lie to you. $ETH $NEIRO
#NEIRO I've already made my money with the rise. Have you been following what I say made a profit too? Tell me here!! $NEIRO I believe that NEIRO will undergo a brief correction starting tomorrow. Keep an eye on the chart, it won't deceive you!
#NEIRO You can even call me crazy. But you can write it down! Neiro tried to break the top of 0.00156 twice... if that happens, my friends... I'm going to make a lot of money. What about you? Are you going to make money or have you abandoned ship?