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BELIEVE /USDT Technical Update
The BELIEVE/USDT pair is currently experiencing strong selling pressure on the 1H chart, reaching new local lows.
📊 Key levels to watch
Current price: $0.003700
Change over 24 hours: 🔴 -27.26%
Immediate support: $0.00334 - $0.00350 (critical zone to prevent further decline).
Key resistance: $0.00407 (MA5) and $0.00475 (MA30).
🔍 Technical Overview
Trend: Strong bearish. Price is trading well below all major moving averages (MA5, MA10, MA30).
MACD: Deep in the negative zone with increasing bearish momentum on the histogram.
Volume: High turnover ($3.70M) during this drop indicates significant liquidity exit.
Market sentiment: The chart shows a "falling knife" pattern. Traders should wait for clear consolidation or a "double bottom" around $0.0033 before looking for reversal signals.