Guys, I found another potential bearish divergence, but it’s not confirmed yet.
Price is pushing toward $0.0507, while RSI is showing weaker momentum compared with its previous peak. That’s a warning that buying pressure may be cooling down, even though price is still near the highs.
All three RSI readings are still in the overbought zone. So, we shouldn’t assume a dump is confirmed just because divergence is appearing.
My confirmation level is RSI dropping below 70, ideally with price losing nearby support as well.
🔻 Key support: $0.045–$0.0455
This area lines up with the MA25 around $0.0454 and a minor horizontal support zone.
If RSI cools down and price pulls back toward this area, I’ll watch how buyers react.
If price loses $0.045, the next downside zones are $0.040 and $0.035.
A deeper correction of around 20–30% is possible if selling pressure accelerates, but it isn’t guaranteed.
On the other hand, if $Q maintains support and rises above the recent high while RSI spikes by breaking the trend line with strong momentum, the bearish setup might fail
I’m not shorting just because RSI is overbought. I’m waiting for confirmation.
Price is pushing toward $0.0507, while RSI is showing weaker momentum compared with its previous peak. That’s a warning that buying pressure may be cooling down, even though price is still near the highs.
All three RSI readings are still in the overbought zone. So, we shouldn’t assume a dump is confirmed just because divergence is appearing.
My confirmation level is RSI dropping below 70, ideally with price losing nearby support as well.
🔻 Key support: $0.045–$0.0455
This area lines up with the MA25 around $0.0454 and a minor horizontal support zone.
If RSI cools down and price pulls back toward this area, I’ll watch how buyers react.
If price loses $0.045, the next downside zones are $0.040 and $0.035.
A deeper correction of around 20–30% is possible if selling pressure accelerates, but it isn’t guaranteed.
On the other hand, if $Q maintains support and rises above the recent high while RSI spikes by breaking the trend line with strong momentum, the bearish setup might fail
I’m not shorting just because RSI is overbought. I’m waiting for confirmation.