Key Chart Elements:
Fibonacci Retracement Levels
The chart includes a Fibonacci retracement tool from a high of $0.08473 down to a low near $0.00146.
Key levels:
0.236 ($0.02111)
0.382 ($0.03327)
0.5 ($0.04310)
0.618 ($0.05292)
0.786 ($0.06691)
Price is currently hovering around the 0.236 retracement level, which is often a weak resistance level.
Price Action & Volume
A massive downtrend took place from August 2022 to early 2024.
A recent spike in volume suggests renewed interest in the asset.
The price had a sharp bounce from the bottom, indicating a possible reversal or speculative accumulation.
Technical Outlook (Projected Path)
The dotted gray trendline suggests a prior long-term downtrend.
The blue curved line indicates a potential rounding bottom pattern, often a sign of accumulation before a move higher.
The blue upward arrow suggests a bullish breakout projection, possibly toward the 0.618 or 0.786 Fibonacci levels ($0.05292–$0.06691).
A break above $0.08473 (previous high) could confirm a major trend reversal.
Support & Resistance
Support Levels:
$0.011 (Moving Average)
$0.00146 (All-time low)
Resistance Levels:
$0.033 (0.382 Fib)
$0.043 (0.5 Fib)
$0.066 (0.786 Fib)
Potential Scenarios:
Bullish Case: If volume sustains and breaks key resistance levels, price could rally toward $0.10-$0.25
Bearish Case: If buying momentum fades, price may retest support near $0.011 before another attempt at breaking higher.
Fibonacci Retracement Levels
The chart includes a Fibonacci retracement tool from a high of $0.08473 down to a low near $0.00146.
Key levels:
0.236 ($0.02111)
0.382 ($0.03327)
0.5 ($0.04310)
0.618 ($0.05292)
0.786 ($0.06691)
Price is currently hovering around the 0.236 retracement level, which is often a weak resistance level.
Price Action & Volume
A massive downtrend took place from August 2022 to early 2024.
A recent spike in volume suggests renewed interest in the asset.
The price had a sharp bounce from the bottom, indicating a possible reversal or speculative accumulation.
Technical Outlook (Projected Path)
The dotted gray trendline suggests a prior long-term downtrend.
The blue curved line indicates a potential rounding bottom pattern, often a sign of accumulation before a move higher.
The blue upward arrow suggests a bullish breakout projection, possibly toward the 0.618 or 0.786 Fibonacci levels ($0.05292–$0.06691).
A break above $0.08473 (previous high) could confirm a major trend reversal.
Support & Resistance
Support Levels:
$0.011 (Moving Average)
$0.00146 (All-time low)
Resistance Levels:
$0.033 (0.382 Fib)
$0.043 (0.5 Fib)
$0.066 (0.786 Fib)
Potential Scenarios:
Bullish Case: If volume sustains and breaks key resistance levels, price could rally toward $0.10-$0.25
Bearish Case: If buying momentum fades, price may retest support near $0.011 before another attempt at breaking higher.
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.