#CFX This decline has been fairly orderly, with highs steadily moving lower. Over 7 days, the price slid from 0.0419 to 0.0342, down 17.6%, while lows kept making new lows.
The moving averages show a clear bearish alignment: the current price of 0.0342 is below both MA7 (0.0366) and MA25 (0.0394). To turn things around in the short term, it first needs to reclaim 0.0366.
RSI has dropped to 23, entering oversold territory. After the MACD death cross, the histogram bars are still extending downward, and the lower Bollinger Band at 0.0347 is right nearby. Several indicators are confirming one another—the trend remains bearish, but the decline has become a bit steep.
Volume is noteworthy, though: today's trading volume was $7.23 million, 1.6 times the average for the previous 6 days. The decline came on increased volume, so selling pressure hasn't fully let up yet.
Watch 0.0324 below, the 7-day low. If it holds, the price may consolidate in oversold territory and attempt a bounce, with 0.0366 as the first target. If it breaks below on increased volume, there isn't much meaningful support underneath. $CFX
The moving averages show a clear bearish alignment: the current price of 0.0342 is below both MA7 (0.0366) and MA25 (0.0394). To turn things around in the short term, it first needs to reclaim 0.0366.
RSI has dropped to 23, entering oversold territory. After the MACD death cross, the histogram bars are still extending downward, and the lower Bollinger Band at 0.0347 is right nearby. Several indicators are confirming one another—the trend remains bearish, but the decline has become a bit steep.
Volume is noteworthy, though: today's trading volume was $7.23 million, 1.6 times the average for the previous 6 days. The decline came on increased volume, so selling pressure hasn't fully let up yet.
Watch 0.0324 below, the 7-day low. If it holds, the price may consolidate in oversold territory and attempt a bounce, with 0.0366 as the first target. If it breaks below on increased volume, there isn't much meaningful support underneath. $CFX
