📉 Indicators and Market Structure:
🔶 Trend:
Current trend: up, as long as it remains above the trend line and the 19.14 USDT level.
Local resistance: 20.28 USDT (recent high).
Next resistances: 20.99 USDT and 22.13 USDT (green lines).
Supports: 19.14 USDT, 18.44 USDT, 17.29 USDT (red lines).
🔷 Stochastic RSI (lower indicator):
Located in the oversold zone (below 20) and starting to reverse upward.
Potential signal of buying pressure if the %K and %D lines cross bullishly.
🧠 Scenarios:
✅ Bullish scenario (trend continuation):
Bounce from the trend line and the 19.14 level → breakout of 20.28 → test of 20.99–22.13.
Confirmation will be a clear bullish candle with high volume and a Stochastic RSI cross up.
❌ Bearish scenario (trend break):
Closing below the trend line and the 19.14 level → correction towards 18.44, and then even to 17.29.
An oversold RSI could support continued declines if a rebound does not occur.
📌 Summary:
Currently, the key level is the trend line and support at 19.14 USDT.
The market is waiting for a reaction – a rebound or a downward breakout.
Stochastic RSI suggests a possible rebound, but candlestick confirmation is needed.
🔶 Trend:
Current trend: up, as long as it remains above the trend line and the 19.14 USDT level.
Local resistance: 20.28 USDT (recent high).
Next resistances: 20.99 USDT and 22.13 USDT (green lines).
Supports: 19.14 USDT, 18.44 USDT, 17.29 USDT (red lines).
🔷 Stochastic RSI (lower indicator):
Located in the oversold zone (below 20) and starting to reverse upward.
Potential signal of buying pressure if the %K and %D lines cross bullishly.
🧠 Scenarios:
✅ Bullish scenario (trend continuation):
Bounce from the trend line and the 19.14 level → breakout of 20.28 → test of 20.99–22.13.
Confirmation will be a clear bullish candle with high volume and a Stochastic RSI cross up.
❌ Bearish scenario (trend break):
Closing below the trend line and the 19.14 level → correction towards 18.44, and then even to 17.29.
An oversold RSI could support continued declines if a rebound does not occur.
📌 Summary:
Currently, the key level is the trend line and support at 19.14 USDT.
The market is waiting for a reaction – a rebound or a downward breakout.
Stochastic RSI suggests a possible rebound, but candlestick confirmation is needed.
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.