Good buying opportunity
RSI Indicator (6): It has significantly dropped to 23.34, which is a clear "oversold" area. Technically, this suggests that selling has peaked and may soon be followed by a corrective rebound upwards. $PROM
MACD Indicator: It shows a negative crossover with the red bars widening below the zero line, confirming the strength of the current downward momentum.
STOCH RSI Indicator: It is at very low levels (13.7), supporting the idea that the downward wave is nearing its end and the price is looking for a bottom to start the rebound. $PROM
3. Support and Resistance Levels
Current Support: The price recently bounced from the level of 1.318, which now represents the most important psychological and technical support area. Breaking this level could push the currency towards 1.10 according to negative forecasts for 2026.
Resistance: The first resistance the price faces upon returning to rise is 1.444, followed by the area of 1.579 where the price has recently failed to hold above.
Summary and Technical Recommendation
The currency is currently under strong selling pressure, but it has reached technical areas (RSI below 30) suggesting the possibility of a short-term technical rebound.
For traders: There may be an opportunity for a "rebound" from the current support areas, but it is high risk.
For investors: The general trend for 2026 appears neutral to bearish with an expected average price around $1.45, so it is advisable to be cautious of high volatility.
