Quick analysis of the SPELL/USD pair$TSMB ๐Ÿ‘‡

1. Current situation

- Price: `0.0000913 USDT`

- 24h change: `+5.67%` up today

- 24h high: `0.0000959` | 24h low: `0.0000833`

- 24h trading volume: 2.52M USDT - average volume

2. Overall trend - strongly bearish

In short: a downtrend for months.

- EMA7: `0.0001422`

- EMA25: `0.0004960`

The price is currently below the two moving averages by a large margin. As long as the price is below the EMA7 and EMA25, it means selling pressure is still in control.

- Yearly decline: `-82.97%`

- 90-day decline: `-39.96%`

But thereโ€™s a small rebound over the last 7 days `+19.14%` and 30 days `+10.91%`. It looks like a corrective bounce, not a trend change.

3. Indicators

- KDJ: `K=3.36, D=3.71, J=2.66` all stuck under 20. Meaning itโ€™s oversold and there was a bounce, but itโ€™s still very weak.

- Candles: thereโ€™s a green candle today, but after a long decline. It needs to be confirmed by a breakout.

4. Important levels

- Nearby resistance: `0.0001422` = EMA7. If it breaks through, it may go to `0.0002216`

- Strong resistance: `0.0004960` = EMA25

- Nearby support: `0.0000751` is the lowest bottom reached on the chart. If it breaks it, weโ€™ll see new numbers.

Summary, my man

1. Trend: bearish on the higher timeframe "monthly"

2. Current: thereโ€™s an attempted rebound of +5% but itโ€™s not confirmed yet. 69% of the orders are buy orders according to the order book, but this can change quickly in memecoins/DeFi.

3. Risk: extremely high. SPELL is a DeFi coin tied to the Abracadabra project and itโ€™s very volatile.

Positive scenario: it holds above `0.0000959`, breaks EMA7, and goes to test `0.00022`

Negative scenario: it refuses EMA7 and returns to break `0.0000751`