1. Chart Pattern
Triangle Pattern: The price movement appears to be forming an ascending triangle pattern. This pattern typically indicates a potential breakout.
Lower Trendline: There is an ascending support line where the price is consistently finding support.
Upper Resistance Line: The resistance level is around 0.01235, which acts as a ceiling for the price.
2. Support and Resistance Levels
Support Levels:
0.01114: A strong short-term support level.
0.01098: A secondary support level below.
Resistance Levels:
0.01235: The key resistance level that needs to be broken for further upward movement.
3. Indicators
RSI (Relative Strength Index):
The RSI graph below fluctuates between 30 and 70, indicating that the market is neither in an overbought nor oversold zone.
The current RSI is near the mid-level, suggesting neutral momentum. An upward movem
Volume:
The 24-hour volume shown is 320.53 million.
If the volume is low, the breakout from the triangle pattern might lack strength. A high-volume breakout would provide more reliability.
4. Performance Data
In the performance section on the bottom right:
1D (1 Day): +10.05% increase.
1W (1 Week): -29.46% decrease.
1M (1 Month): -17.19% decrease.
This indicates a short-term recovery attempt within an overall bearish trend.
5. General Outlook
Short-Term Expectation:
If the price holds above the 0.01114 support level and breaks upwards with significant volume, the next target would be the 0.01235 resistance level.
Long-Term Risk:
If the 0.01114 support level is broken to the downside, the price could drop further to 0.01098 or lower levels.
Triangle Pattern: The price movement appears to be forming an ascending triangle pattern. This pattern typically indicates a potential breakout.
Lower Trendline: There is an ascending support line where the price is consistently finding support.
Upper Resistance Line: The resistance level is around 0.01235, which acts as a ceiling for the price.
2. Support and Resistance Levels
Support Levels:
0.01114: A strong short-term support level.
0.01098: A secondary support level below.
Resistance Levels:
0.01235: The key resistance level that needs to be broken for further upward movement.
3. Indicators
RSI (Relative Strength Index):
The RSI graph below fluctuates between 30 and 70, indicating that the market is neither in an overbought nor oversold zone.
The current RSI is near the mid-level, suggesting neutral momentum. An upward movem
Volume:
The 24-hour volume shown is 320.53 million.
If the volume is low, the breakout from the triangle pattern might lack strength. A high-volume breakout would provide more reliability.
4. Performance Data
In the performance section on the bottom right:
1D (1 Day): +10.05% increase.
1W (1 Week): -29.46% decrease.
1M (1 Month): -17.19% decrease.
This indicates a short-term recovery attempt within an overall bearish trend.
5. General Outlook
Short-Term Expectation:
If the price holds above the 0.01114 support level and breaks upwards with significant volume, the next target would be the 0.01235 resistance level.
Long-Term Risk:
If the 0.01114 support level is broken to the downside, the price could drop further to 0.01098 or lower levels.
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.