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Hello dear followers in #BinanceSquare let's take a quick look at the movement of the DIA/USDT pair after the recent fluctuations and the sudden liquidity that entered the game.
๐ Reading price action:
We witnessed a very strong breakout reaching levels of 0.1861 with a high momentum candle, but the rapid selling pressure caused the price to drop slightly to test the current support areas at 0.1726.
โ๐ Technical reading of the indicators:
โLiquidity: There is a clear and real inflow of liquidity on the OBV, reflecting institutional interest or smart accumulation in these areas.
โRSI Indicator: Currently positioned at 53, which means the currency is not in an overbought condition, and there is good room for a second upward wave if the price stabilizes.
โ๐ Expected scenarios:
1๏ธโฃ Positive scenario: Staying above the 0.1700 area (which has turned from resistance to support) opens the door again to target levels of 0.1850 then 0.1900 and above.
2๏ธโฃ Corrective scenario: If the 0.1700 level is broken and closed below, we may see a return to test demand areas between 0.1650 and 0.1610.
๐ก Advice for traders:
Watch the price behavior closely at the 0.1700 level; it is crucial in determining the next direction over the next few hours. Always make risk management and activating a "stop loss" part of your strategy.
โWhat do you think? Do we see $DIA breaking the previous peak today? Share your predictions in the comments! ๐ Follow us for more updates ๐ซก
โ #CryptoAnalysis #DIAUSDT #TechnicalAnalysis #tradingtips