What is 1000beer Coin?
1000beer Coin is a blockchain-based cryptocurrency developed to promote transparent transactions within the beer industry. It is designed for use in transactions and event participation between beer manufacturers, distributors, and consumers. Despite high expectations upon its listing on the Bybit exchange, the coin is currently experiencing a sharp price decline.
Price Analysis
A detailed analysis of the 1-hour chart for 1000beer Coin reveals the following key indicators:
•Initial Listing Price (Peak): 0.18808 USDT
•Current Price: 0.07430 USDT
•24-Hour Change: -58.90%
•24-Hour High: 0.18808 USDT
•24-Hour Low: 0.06256 USDT
•24-Hour Trading Volume: 218,275,940.71 USDT
•9-Hour Moving Average Volume: Red: 116.007M, Blue: 55.009M
•EMA (5, 20): 0.08997 (EMA 5), 0.12503 (EMA 20)
•Current Open Interest: 172,023,363
차트 분석
Chart Analysis
Initial Surge and Plunge
1000beer Coin received significant attention at its initial listing, reaching a high of 0.18808 USDT. However, strong selling pressure led to a sharp decline in price, likely due to early investors cashing in on their profits.
Ongoing Downtrend
The coin has been in a continuous downtrend, with a notable sharp decline between June 13 and 14. During this period, the price fell below 0.10 USDT, briefly plummeting to 0.06256 USDT.
Moving Averages (EMA)
Examining the EMA 5 (short-term) and EMA 20 (long-term) shows that EMA 5 crossing below EMA 20 indicates a strong bearish trend, suggesting that the downtrend may continue in the short term.
Volume Analysis
The 24-hour trading volume remains high at 218,275,940.71 USDT. Volume spikes during price drops indicate intense selling activity, highlighting significant bearish pressure.
Psychological Support and Resistance Levels
•Psychological Support: 0.07000 USDT
•Short-Term Support: 0.06000 USDT
•Psychological Resistance: 0.10000 USDT
•Short-Term Resistance: 0.08000 USDT
The 0.07000 USDT support level is crucial; if it breaks, further declines are possible. Conversely, breaking the 0.08000 USDT resistance could lead to a short-term rebound.
Technical Analysis
1.RSI (Relative Strength Index): The RSI indicates oversold conditions when below 30. Currently, the RSI is at 28, suggesting a potential short-term rebound.
2.MACD (Moving Average Convergence Divergence): The MACD also indicates a bearish trend, with the signal line below the MACD line, suggesting a continued downtrend in the mid-term.
3.Bollinger Bands: The price consistently touching the lower Bollinger Band indicates strong downward pressure.
Conclusion
1000beer Coin has seen a significant decline since its listing, with the current price at 0.07430 USDT, less than half of its initial value. In the short term, a rebound is possible at the 0.07000 USDT support level, but if this level fails, further declines are likely.
To recover, the coin needs to break the psychological resistance at 0.10000 USDT, which depends on restoring investor confidence and favorable market conditions. Caution is advised, and investors should closely monitor technical indicators.
Investors must employ risk management strategies such as stop-loss orders to navigate market volatility. Long-term price recovery will depend on the project’s tangible value and vision.
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