Current Status: Neutral with a cautious bearish bias. The price is currently in a consolidation phase after a sharp drop. To accurately gauge the next direction, we need to keep an eye on the following levels:
1. Bullish Scenario: A real positive shift won't happen unless we break the 612 - 620 USDT levels and close above them on the daily chart, accompanied by high trading volume. This will clear the path for a return to the 650 levels.
2. The negative scenario (continued decline): A break of the nearby support levels at 595 USDT and consolidation below them may push the price to retest the previous bottom at around 550 USDT.
Trading advice: It’s best to wait until the price exits the current narrow range (between 595 and 612) and to avoid entering with full liquidity in the current confusion zones.$USDC
