Overall Trend:
The price shows signs of recovery after a prolonged downtrend. On both charts, the price has moved above the 200-MA, suggesting potential bullish momentum. However, the current level near $3.60 acts as a resistance zone that needs to be cleared for further upside.Support and Resistance Levels:
Support: Strong support is observed around $3.20, aligning with the 200-MA and demand clusters from historical price action.
Resistance: The resistance zone is around $3.60–$3.70, as highlighted by the recent highs and clusters of sell signals.
Technical Indicators:
RSI: The RSI is hovering around 43.65, reflecting a neutral zone with slight bearish pressure.
MACD: A mild bullish crossover is evident, but the momentum remains weak.
Volume: Volume levels are steady but lack significant spikes, indicating moderate trader participation.
Cluster and Zone Analysis:
A demand zone around $3.20–$3.30 is visible, showing strong buying interest in this range.
Resistance clusters are concentrated near $3.60–$3.70. A breakout above this range could signal strong bullish continuation.
The price is at a critical resistance level, and its direction depends on whether it can break above $3.70 or if it falls back to retest the $3.20 support. Traders should watch for volume spikes and RSI movements to confirm the next trend.
