-Support Levels (Blue Lines)**: Key support levels are marked around 53,485.93 and 44,331.10.
-Resistance levels are shown at 63,861.76, 67,298.81, and higher.
- A yellow upward trend line connects the lows, indicating a general upward trend over the period shown.
-The volume bars at the bottom indicate trading activity. There are noticeable spikes in volume coinciding with price changes.
-The RSI indicator at the bottom shows the current momentum. The RSI value is around 34.97, which is close to the oversold region (typically below 30). -The price has recently broken below the upward trend line and is approaching the support level at 53,485.93.
-The price breaking below the upward trend line suggests potential weakness or a change in the trend. This could indicate a shift from a bullish to a bearish trend.
-The next key support level is at 53,485.93. If the price falls below this level, it might head towards the next support at 44,331.10.
-On the upside, the price would need to break above resistance levels at 63,861.76 and 67,298.81 to resume a bullish trend.
-The RSI nearing the oversold region indicates that the asset might be undervalued in the short term, suggesting a potential rebound or at least a halt in the current downtrend.
-Conclusion
- **Short-Term Outlook**: Watch the support level at 53,485.93 closely. If it holds, a bounce back towards the trend line or higher resistance levels is possible. If it breaks, further downside could be expected.
- **Long-Term Outlook**: The overall trend is still bullish if we consider the long-term perspective, but the recent break of the trend line and the downward pressure suggest caution in the short term.
