📉 Short-term situation:
The price is currently trading around 2028 USDT, after a sharp decline from around 2273 USDT (resistance).
The support level around 2000 USDT is currently being tested (coinciding with the SMA 200 – blue line).
A dynamic uptrend line (orange) is also visible, which could act as a key support level in the event of further declines.
🔍 Support and Resistance Levels:
Resistance:
🔴 2188 USDT – recent local high and convergence with the SMA 21.
🟢 2273 USDT – major resistance; previous rebound and point of significant price reaction.
Support:
🔵 1980 USDT – local support + SMA200.
🟠 Uptrend line (~1940–1960 USDT).
🔴 1832 USDT – stronger horizontal support with multiple confirmations.
🔴 1623 USDT – very strong support, from previous lows.
📊 Technical indicators:
RSI (Relative Strength Index):
Current value: ~42, neutral, but approaching the oversold zone (<30).
The RSI is falling rapidly, suggesting selling pressure, but a reaction is possible near current support.
MACD:
Negative signal: signal line crossing from above + descending histogram.
Indicates a continuation of the correction, but we are approaching the potential exhaustion of the downward momentum.
📈 Moving averages:
EMA/SMA 50 and 200:
The price is currently testing the SMA200 – crucial for the medium-term trend.
SMA21 (red) and SMA50 (green) – have reversed downward, which may suggest a weakening of bullish momentum.
🔮 Scenarios:
🟢 Bullish scenario (confirmation of support):
A rebound from 1980–2000 USDT and further upward movement.
Potential target: first ~2180 USDT, then ~2273 USDT.
The condition is a demand response at the current level + an improvement in the RSI/MACD.
🔴 Bearish scenario (breakout of support):
If the 1980 USDT level is broken and the price falls below the uptrend line, a continued decline to 1832 USDT or even lower is possible.
Confirmation will be a strong bearish candle with high volume and a further decline in the RSI/MACD.
The price is currently trading around 2028 USDT, after a sharp decline from around 2273 USDT (resistance).
The support level around 2000 USDT is currently being tested (coinciding with the SMA 200 – blue line).
A dynamic uptrend line (orange) is also visible, which could act as a key support level in the event of further declines.
🔍 Support and Resistance Levels:
Resistance:
🔴 2188 USDT – recent local high and convergence with the SMA 21.
🟢 2273 USDT – major resistance; previous rebound and point of significant price reaction.
Support:
🔵 1980 USDT – local support + SMA200.
🟠 Uptrend line (~1940–1960 USDT).
🔴 1832 USDT – stronger horizontal support with multiple confirmations.
🔴 1623 USDT – very strong support, from previous lows.
📊 Technical indicators:
RSI (Relative Strength Index):
Current value: ~42, neutral, but approaching the oversold zone (<30).
The RSI is falling rapidly, suggesting selling pressure, but a reaction is possible near current support.
MACD:
Negative signal: signal line crossing from above + descending histogram.
Indicates a continuation of the correction, but we are approaching the potential exhaustion of the downward momentum.
📈 Moving averages:
EMA/SMA 50 and 200:
The price is currently testing the SMA200 – crucial for the medium-term trend.
SMA21 (red) and SMA50 (green) – have reversed downward, which may suggest a weakening of bullish momentum.
🔮 Scenarios:
🟢 Bullish scenario (confirmation of support):
A rebound from 1980–2000 USDT and further upward movement.
Potential target: first ~2180 USDT, then ~2273 USDT.
The condition is a demand response at the current level + an improvement in the RSI/MACD.
🔴 Bearish scenario (breakout of support):
If the 1980 USDT level is broken and the price falls below the uptrend line, a continued decline to 1832 USDT or even lower is possible.
Confirmation will be a strong bearish candle with high volume and a further decline in the RSI/MACD.
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.