might be an opportunity for a bullish pullback as price is in a resistance level, keep eye on the chart or if it willl break then go ahead for short like 1:2
The conference will take place from 2:30 AM to 6:30 AM Beijing time on March 8. President Trump will personally attend and deliver a speech, joining AI and cryptocurrency mogul David Sacks, acting SEC Chair Mark Uyeda, acting CFTC Chair Caroline Pham, and numerous leaders from the crypto industry.
Trend: The chart shows a clear downtrend, with consecutive lower highs and lower lows. The blue trendline confirms this bearish trend.
MACD:
The MACD line (blue) is below the signal line (orange), indicating bearish momentum.
However, the MACD histogram shows signs of weakening bearish momentum, as the bars are becoming less negative.
Support Level: There seems to be a support zone near 0.0890, which could act as a barrier to further downward movement.
Analysis:
While the chart currently supports a bearish sentiment, the weakening MACD histogram suggests a possible slowdown in the downtrend. This might indicate a near-term reversal or consolidation around the support level.
Exit or Partial Exit: If the price reaches the support zone at 0.0890 and starts showing signs of reversal (e.g., bullish MACD crossover or strong bullish candles), consider exiting or booking profits.