SWING TRADERR
MACD SWING TRADER
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$TUT The rejection at that diagonal trendline on the daily chart suggests that the bearish structure is still very much in play. Since the price failed to close above that orange line, here is the technical outlook for TUT/USDT:
1. Immediate Support Levels
The most likely scenario after a rejection is a retest of previous "floors."
Primary Support: The recent low at 0.00792 is the first major target. If the price reaches this zone, watch for a "double bottom" formation or a liquidity grab.
Secondary Support: If 0.00792 fails to hold, the chart suggests further discovery to the downside, as there is little historical volume support immediately below that level.
2. Indicator Analysis
RSI (6): Currently sitting at 45.09. It is in neutral territory, meaning there is plenty of "room" for the price to drop further before the asset becomes oversold (typically below 30).
MACD: You can see the histogram bars are starting to fade/flatten. The MACD line (DIF) and Signal line (DEA) are still below the zero line, which confirms the long-term trend remains bearish.
3. What to Watch For
For a change in sentiment, you would need to see one of two things:
A Breakout: A daily candle closing decisively above the orange trendline with high trading volume. This would flip the trendline from resistance to support.
Consolidation: The price moving sideways between 0.00792 and 0.00880, which would allow the RSI to reset and potentially build strength for a second attempt at the breakout.
Summary: The path of least resistance is currently downward or sideways. Entering a "Long" here is risky because you are trading directly into a rejection. It may be wiser to wait for a successful retest of the 0.00792 support or a confirmed break above the trendline.
1. Immediate Support Levels
The most likely scenario after a rejection is a retest of previous "floors."
Primary Support: The recent low at 0.00792 is the first major target. If the price reaches this zone, watch for a "double bottom" formation or a liquidity grab.
Secondary Support: If 0.00792 fails to hold, the chart suggests further discovery to the downside, as there is little historical volume support immediately below that level.
2. Indicator Analysis
RSI (6): Currently sitting at 45.09. It is in neutral territory, meaning there is plenty of "room" for the price to drop further before the asset becomes oversold (typically below 30).
MACD: You can see the histogram bars are starting to fade/flatten. The MACD line (DIF) and Signal line (DEA) are still below the zero line, which confirms the long-term trend remains bearish.
3. What to Watch For
For a change in sentiment, you would need to see one of two things:
A Breakout: A daily candle closing decisively above the orange trendline with high trading volume. This would flip the trendline from resistance to support.
Consolidation: The price moving sideways between 0.00792 and 0.00880, which would allow the RSI to reset and potentially build strength for a second attempt at the breakout.
Summary: The path of least resistance is currently downward or sideways. Entering a "Long" here is risky because you are trading directly into a rejection. It may be wiser to wait for a successful retest of the 0.00792 support or a confirmed break above the trendline.
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$NIGHT if the weekly candle close green 💚🍏 it's possible to reverse from this bottom
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