

The chart reflects a strong downward trend, intensified by recent large bearish candles.
faces significant downward pressure with potential rebounds near strategic support levels.
The chart shows a downward trend overall, with recent large bearish candles indicating strong selling pressure.
A notable bearish engulfing pattern is visible in the recent candles, suggesting continued bearish sentiment.
A hammer pattern near the end of the chart indicates potential reversal or support around current levels, as buyers stepped in after significant selling.
The MACD line is below the Signal line, indicating a bearish crossover that happened recently, suggesting negative momentum.
The MACD histogram shows increasing negative bars, which further confirms bearish momentum and a lack of buying pressure.
No significant divergences are noted between MACD and price action, reinforcing the current downtrend.
There is a noticeable increase in volume during the recent decline, supporting the strength of the bearish move.
A large spike in volume a few days ago coincided with a significant price drop, possibly indicating institutional selling or panic selling.
Key support is around the 24,500 level, where the recent price action shows a potential bounce, the hammer formation adds strength to this support.
Previous support around 25,000 now acts as resistance.
The ability of the price to break above this level is crucial for any reversal to hold.
Given the strong bearish signals, it might be prudent to hold off new buys until a clear reversal signal forms.
Existing long positions could consider risk management strategies.
Watch for confirmation of reversal with a close above 25,000, accompanied by decreasing selling volume.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.