🚀📊$PSG Hi! Here is my technical analysis based on the PSG/USDT chart.
▫️1. Overall Trend
The current price is $2.608, with a +10.88% increase for the day.
The price recently hit a low of $1.778 and is now in a recovery phase.
The trend was bearish, but there are signs of a reversal with increasing volume and a breakout of short-term resistance.
▫️2. Technical Indicators
Parabolic SAR (SAR)
The SAR dots were above the price during the downtrend.
Recently, the dots have moved below the price, indicating a possible bullish reversal.
Moving Averages (MA)
MA(5) = 1.684M and MA(10) = 1.164M → The 5-period moving average is above the 10-period moving average, confirming bullish momentum.
Relative Strength Index (RSI)
RSI(6) = 79.493, indicating that the asset is overbought.
This could suggest a potential correction before continuing the trend.
MACD (Moving Average Convergence Divergence)
DIF = -0.109, DEA = -0.164, and MACD = 0.055.
The MACD histogram is starting to turn positive, an initial sign of strength in the uptrend.
▫️3. Volume
Volume is increasing significantly, confirming the strength of the recent upward movement.
This could indicate new buyers entering the market.
▫️4. Support and Resistance Levels
Support: $1.778 (recent low).
Resistance: $2.874 (next key barrier to break).
▫️5. Conclusion
Bullish scenario: If the price breaks $2.874, the uptrend could continue.
Cautious scenario: The high RSI suggests a possible pullback/correction before further gains.
Potential strategy: Waiting for a small retracement to strong support levels around $2.40–$2.50 could be a good entry for traders looking to follow the trend.
⚠️Remember:⚠️
❗This is not financial advice.❗
❗Cryptocurrencies are high-risk assets.❗
❗Only invest what you can afford to lose.❗
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