๐จ $RED /USDT Market Update ๐จ
๐ Current Price: $0.6955 (-16.95%)
๐ 24h High: $0.8289 | 24h Low: $0.5697
๐ 24h Volume: 140.6M RED | 100.8M USDT
๐ Market Insights:
Heavy Selling Pressure: Money flow shows a net outflow of -5.65M, with large sell orders exceeding large buys.
Margin Debt Growth: Fluctuating, indicating high volatility in leveraged positions.
Long-Short Ratio: Increased, suggesting traders are taking both bullish and bearish bets.
Isolated Margin Borrowing Spike: A large jump in borrowing suggests traders might be taking aggressive positions.
๐ Technical Outlook:
Bollinger Bands: Price trading near lower band, potential for a short-term bounce.
RSI (6): 70.76 โ Approaching overbought, caution for reversal.
MACD: Weak bullish momentum.
Stochastic RSI: 100 โ Overbought conditions, possible retracement ahead.
๐ด Final Outlook:
Market remains highly volatile with significant sell-side pressure.
Caution is advised for leveraged traders due to margin spikes.
Watch for key support at $0.5697 and resistance near $0.77.
๐ฌ What's your take? Drop your thoughts below! ๐
๐ข Follow me to get all the latest news and analysis. @Ahmad-Abdulal