Our pivot point stands at 0.3731.
Our preference: rebound towards 0.4079.
Alternative scenario: the downside breakout of 0.3731 would call for 0.3611 and 0.3539.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.3938 and 0.4110).
Supports and resistances:
0.4223 **
0.4151 *
0.4079 **
0.4007
0.3862 last
0.3778
0.3731 **
0.3611 *
0.3539 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 12-01-2025 at 08:44 UTC+1
Price reference: 0.3862 last known on 12-01-2025 at 08:44 UTC+1
Investment horizon: INTRADAY
TRADING CENTRAL recommends reading the legal and regulatory information as well as the warnings concerning the information provided accessible from the following link : https://global.tradingcentral.com/www/pdf/terms_of_use_web_sites_en.pdf