. Classic analysis

Overall trend: The stock is trending downward in the short term. The falling highs and falling lows clearly show this, with the downward trendline drawn in orange putting pressure on the price.

Support and resistance levels:

Current Resistance: Located in the 2.96 area, representing the current horizontal resistance line.

Next support: located in the 2.91 area (recommended entry point).

Price Pattern: The price is currently trading within a narrow descending channel and is trying to break out of the downtrend line, but to no avail so far.

2. Smart Currency Concept (SMC) Analysis

Break in Structural (BOS): A recent downward break in structure has occurred, confirming the continuation of negative sentiment.

Liquidity: Buyer liquidity is concentrated above the nearby highs, while the current move targets lower sell-side liquidity.

Entering the Zone: The price is approaching the potential demand zone level of 2.91.

3. Technical analysis and indicators

RSI (14): A reading of 46.9 is in neutral territory and is trending negative, indicating weak purchasing power.

ADX: The current trend strength is 26.5, which means there is “moderate” downward momentum.

MACD: This indicator shows a negative crossover (bearish), supporting the current bearish scenario.

Volume Status: Volume was at HIGH during the recent decline, confirming selling pressure.

4. Transaction Management and Objectives

Based on the “Sniper Mode” tool shown in the diagram:

Ideal entry point (ENTRY): 2.91.

First goal (TP1): 2.85.

Second goal (TP2): 2.79.

Third goal (TP3): 2.73.

Fourth goal (TP4): 2.67.

Target 5 (TP5): 2.61.

5. Expected scenarios

Base case (most likely): The decline continues to test the 2.91 area, and if broken, the stock will continue its gradual decline towards the above target.

Another scenario: A true breakout of the downtrend line (orange) and stabilization above the 3.00 level removes the negative outlook and turns the price into a consolidation or bullish path.

final rating

Expected trade success rate: approximately 57% (based on bullish scores shown).

Trade Type: Suitable for quick scalping or short-term swing trading due to the nature of the time frame.

Current status: Wait (WAIT) until a breakout of support or a bounce from support is confirmed.

Source link