The price had been fluctuating for a while. Then, it entered a platform here, which I considered the support area.
The reason I consider this one a support area is that it already broke out the lower band of the Bollinger Bands, however, the price stopped here. This could tell us that the lower band is supporting the price, the pressure from buyers is becoming stronger.
The buyers may beat sellers here.
Although the MACD and RSI have not shown anything yet, they are lagging indicators. The signals from these two indicators may show up later.
Let’s expect the price to go up soon
The reason I consider this one a support area is that it already broke out the lower band of the Bollinger Bands, however, the price stopped here. This could tell us that the lower band is supporting the price, the pressure from buyers is becoming stronger.
The buyers may beat sellers here.
Although the MACD and RSI have not shown anything yet, they are lagging indicators. The signals from these two indicators may show up later.
Let’s expect the price to go up soon