🧠 Technical Overview:
✅ 1. Price Action:
The price is forming a descending triangle pattern, which typically signals bearish continuation if broken to the downside.
It’s currently testing a key horizontal support zone around $0.164 – $0.18 USDT (marked in pink), a historical accumulation area.
Lower highs suggest sellers are still in control.
☁️ 2. Ichimoku Cloud:
Price is below the cloud, and both Tenkan and Kijun lines are pointing down → clear bearish trend.
No sign of bullish reversal from Ichimoku yet.
📉 3. RSI (14):
RSI is at 32.98, nearing the oversold region.
The RSI and its moving average are running close together, no strong divergence yet.
🔄 4. WTO (Wave Trend Oscillator):
WTO is deep in the oversold zone (around -50), and the blue and orange lines are slightly curling up → possible short-term bounce signal.
🔄 5. MACD:
The MACD histogram is shrinking on the negative side, showing bearish momentum is weakening.
However, MACD has not crossed above the signal line yet → wait for confirmation.
🧪 6. Cluster Algo:
No strong bullish signals yet from the cluster indicators.
Lines are compressing, which may indicate a potential breakout soon.
🔍 Key Levels:
Immediate Resistance: $0.20 – $0.21 USDT (Fib 0.236), further targets at $0.28 and $0.455 (Fib 0.786).
Critical Support: $0.164 USDT. If this breaks, price could head to $0.11 – $0.12 (previous lows).
🎯 Summary:
This is a critical decision zone – price is at the bottom of a descending triangle and testing strong support.
RSI + WTO are near oversold → a bounce is possible, but MACD confirmation is needed.
If support at $0.164 fails, price might drop sharply.
If it holds and volume picks up, a move toward $0.20 – $0.21 is likely.
✅ 1. Price Action:
The price is forming a descending triangle pattern, which typically signals bearish continuation if broken to the downside.
It’s currently testing a key horizontal support zone around $0.164 – $0.18 USDT (marked in pink), a historical accumulation area.
Lower highs suggest sellers are still in control.
☁️ 2. Ichimoku Cloud:
Price is below the cloud, and both Tenkan and Kijun lines are pointing down → clear bearish trend.
No sign of bullish reversal from Ichimoku yet.
📉 3. RSI (14):
RSI is at 32.98, nearing the oversold region.
The RSI and its moving average are running close together, no strong divergence yet.
🔄 4. WTO (Wave Trend Oscillator):
WTO is deep in the oversold zone (around -50), and the blue and orange lines are slightly curling up → possible short-term bounce signal.
🔄 5. MACD:
The MACD histogram is shrinking on the negative side, showing bearish momentum is weakening.
However, MACD has not crossed above the signal line yet → wait for confirmation.
🧪 6. Cluster Algo:
No strong bullish signals yet from the cluster indicators.
Lines are compressing, which may indicate a potential breakout soon.
🔍 Key Levels:
Immediate Resistance: $0.20 – $0.21 USDT (Fib 0.236), further targets at $0.28 and $0.455 (Fib 0.786).
Critical Support: $0.164 USDT. If this breaks, price could head to $0.11 – $0.12 (previous lows).
🎯 Summary:
This is a critical decision zone – price is at the bottom of a descending triangle and testing strong support.
RSI + WTO are near oversold → a bounce is possible, but MACD confirmation is needed.
If support at $0.164 fails, price might drop sharply.
If it holds and volume picks up, a move toward $0.20 – $0.21 is likely.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.