TST/USDT Technical Analysis (1H Timeframe)
Key Observations:
1. Current Price: $0.0894
2. 24H High: $0.1230
3. 24H Low: $0.0870
4. Daily Change: -24.68% (Significant drop)
5. Fibonacci Retracement Levels:
0.786 Level: $0.0912 (Potential support near the current price)
0.618 Level: $0.1018 (Next major resistance)
0.5 Level: $0.1093 (Intermediate resistance)
0.382 Level: $0.1167 (Another resistance above)
0.236 Level: $0.1260 (Strong resistance)
0.0 Level: $0.1409 (Highest resistance)
Market Trend & Evaluation:
Downtrend: The 1-hour chart clearly shows a bearish trend, with the price testing the 0.786 Fibonacci support level around $0.0912.
Support Levels: $0.0894 and $0.0870. If these levels break, the next potential support is at $0.0774.
Resistance Levels: First resistance at $0.0912, followed by $0.1018 (0.618 Fibonacci level).
Buy or Sell Recommendations:
For Buying: If the price holds above $0.0870 and shows bullish momentum, it could bounce toward $0.1018 or $0.1093.
For Selling: If $0.0894 breaks downward, the next targets could be $0.0870 and $0.0774.
Conclusion:
The market is currently in a downtrend, so patience is key. If the support holds, there might be a buying opportunity. Otherwise, the price could decline further.