BLESS ANJLOK -18%! READY TO REBOUND? 📈
ANALYSIS:
BLESS/USDT on the 1-hour timeframe is experiencing strong bearish pressure, with the price around 0.009536 after falling -18.69% in the past 24 hours. The decline happened after the price failed to hold the peak area of 0.013432, then formed a structure of lower highs and lower lows.
The current price is below MA7 0.01009, MA25 0.01098, and MA99 0.01125, indicating that sellers still control the trend. The Supertrend around 0.01107 also continues to provide a bearish bias.
Interestingly, RSI(6) has dropped to 19.36, meaning BLESS is in an extremely oversold condition. This increases the chance of a technical rebound, but it is not yet confirmation that the trend has already turned bullish. MACD is still negative, with DIF -0.0004545 below DEA -0.0003581, so the downward momentum has not fully finished.
The nearest supports are at 0.00918–0.00904. If that breaks, the price could move toward 0.0085–0.0080. Initial resistance is at 0.0100–0.0101, then 0.0107–0.0111.
In conclusion, BLESS is still bearish, but the oversold condition opens up potential for a short-term rebound. A reversal will be more convincing if the price can break back through 0.0107–0.0111 with increased volume.
$BLESS
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
ANALYSIS:
BLESS/USDT on the 1-hour timeframe is experiencing strong bearish pressure, with the price around 0.009536 after falling -18.69% in the past 24 hours. The decline happened after the price failed to hold the peak area of 0.013432, then formed a structure of lower highs and lower lows.
The current price is below MA7 0.01009, MA25 0.01098, and MA99 0.01125, indicating that sellers still control the trend. The Supertrend around 0.01107 also continues to provide a bearish bias.
Interestingly, RSI(6) has dropped to 19.36, meaning BLESS is in an extremely oversold condition. This increases the chance of a technical rebound, but it is not yet confirmation that the trend has already turned bullish. MACD is still negative, with DIF -0.0004545 below DEA -0.0003581, so the downward momentum has not fully finished.
The nearest supports are at 0.00918–0.00904. If that breaks, the price could move toward 0.0085–0.0080. Initial resistance is at 0.0100–0.0101, then 0.0107–0.0111.
In conclusion, BLESS is still bearish, but the oversold condition opens up potential for a short-term rebound. A reversal will be more convincing if the price can break back through 0.0107–0.0111 with increased volume.
$BLESS
#Write2Earn #trading #BinanceSquare #BinanceSquareFamily #TechnicalAnalysis
