PROVE/USDT Market Update โ 15m Chart Analysis
๐ Timeframe: 15m
๐ฐ Current Price: $1.2464
๐ 24h Change: -8.19%
๐ RSI(6): 22.3 (Oversold)
๐ MACD: Still bearish but losing momentum
๐ Support Tested: $1.2329
๐ MA Levels:
MA(7): 1.2471 (Resistance)
MA(25): 1.2910
MA(99): 1.3221
๐ What the Chart Shows:
๐ The asset recently hit $1.2329, a new short-term low, and is trying to recover.
โ RSI is rebounding from extremely oversold levels (under 30), which might indicate a short-term bounce is coming.
โ ๏ธ However, MACD is still negative and price is below all major moving averages, which signals the overall trend remains bearish for now.
๐ง Key Takeaways for Traders:
Oversold โ Buy Signal: Always wait for confirmation like a MACD crossover or a break above MA(7).
Short-Term Bounce? Possible if RSI strength continues. Watch $1.25 โ $1.26 zone closely.
Trend Still Bearish: Larger timeframes need to flip before calling a reversal.
๐ฌ Do you think weโll see a reversal or just a dead cat bounce? Drop your analysis below! ๐
