The oversold RSI and proximity to the lower Bollinger Band suggest a potential short-term rebound. However, this should be viewed as a corrective move unless confirmed by strong bullish signals, such as a break above key resistance levels and moving averages.
Note
The price has moved above a previous support level around 3.0, which is a positive sign.Note
next target $3.78Note
resistance levels around 3.50 USDT (0.236 level), 4.00 USDT (0.382 level), and higher levels at 5.40 USDT (0.618 level).the chart shows some signs of a potential bullish reversal but confirmation is needed through breaking key resistance levels and the descending trendline
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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.