1. Main funds are suspected to be withdrawing, the contract market lacks sustained support, and the 24H +43.75% is a high-level profit-taking aftermath, with downside risks being released in concentration.
2. 1-hour MACD (9,26) shows a deep bearish crossover, bearish momentum bars continue to expand, and the weak trend below the zero axis is obvious.
3. RSI(14) is at 38, in a neutral-to-bearish range, with a clear downward turn, bull support is exhausted, and there is no rebound momentum.
4. There is a severe divergence between price and capital flow (high price increase without capital follow-up), trading volume is gradually shrinking, confirming the sustainability of the high-level pullback trend.
Support levels:
1. $0.0048 (recent pullback low)
2. $0.0042 (Fibonacci 0.618 support)
Resistance levels:
1. $0.0060 (24H high)
2. $0.0065 (recent range resistance)
Take profit suggestion: $0.0048, Stop loss: $0.0060
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
$XNY Current price: $0.005431
Direction: Bearish
Reasons:
1. Main funds are suspected to be withdrawing, the contract market lacks sustained support, and the 24H +43.75% is a high-level profit-taking aftermath, with downside risks being released in concentration.
2. 1-hour MACD (9,26) shows a deep bearish crossover, bearish momentum bars continue to expand, and the weak trend below the zero axis is obvious.
3. RSI(14) is at 38, in a neutral-to-bearish range, with a clear downward turn, bull support is exhausted, and there is no rebound momentum.
4. There is a severe divergence between price and capital flow (high price increase without capital follow-up), trading volume is gradually shrinking, confirming the sustainability of the high-level pullback trend.
Support levels:
1. $0.0048 (recent pullback low)
2. $0.0042 (Fibonacci 0.618 support)
Resistance levels:
1. $0.0060 (24H high)
2. $0.0065 (recent range resistance)
Take profit suggestion: $0.0048, Stop loss: $0.0060