🚀 Analysis of currency $ARPA 🚀
Good times to you, today our look at currency $ARPA on the daily chart. The currency is currently going through a period of calm after a decline from the last peak which reached 0.02320, and this is my personal analysis of the situation:
• Current price: 0.01138
• Indicator analysis:
• MACD: still leaning towards negativity with the presence of red bars, but we are noticing a decrease in selling momentum, which might give a signal for a near rebound.
• RSI: Relative Strength Index (RSI 6) at level 30, which means the currency has entered "oversold" areas, and usually from here the currency starts looking for a rebound point upwards.
• Moving averages (MA): the price is currently below the averages, which is putting pressure on the currency, but its stability above the low of 0.01092 is very important.
📉 Targets and important areas:
• First target: 0.01220 (breaking the MA7 average).
• Second target: 0.01340.
• Third target (distant): 0.01430.
• Stop loss: daily close below 0.01090.
Note: the currency is still in a downward sub-trend, entry would be better when a clear reversal candle appears or an increase in trading volumes.
Good luck with your trades, and always be mindful of risk management! 🚀
