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📊 Analysis of MDT/USDT: Possible reversal after a prolonged decline 🚀
On the weekly chart of MDT/USDT, there is an interesting technical picture. The price has been in a descending wedge 🔻 for a long time, which is traditionally a bullish pattern when breaking upward.
💡 Key observations:
Current price: $0.0333 — an increase of +26.9% over the week 📈.
SMA 7 and SMA 25 ($0.0241 and $0.0247) are below the price, confirming a short-term bullish momentum ✅.
SMA 99 ($0.0486) is currently acting as a medium-term resistance 🛑.
Ichimoku Cloud: The price is still below the cloud but is approaching a test of the lower boundary ($0.0335–0.0486). A breakout of the cloud will solidify the upward trend ☁️➡️☀️.
Parabolic SAR ($0.0144) remains below the price, indicating an upward phase.
📌 Strong levels:
Support: $0.0245 and $0.0300 🛡.
Resistance: $0.0486 and $0.0600 🎯.
📈 Potential scenario:
If the price consolidates above $0.035 and breaks the $0.0486 area, an acceleration towards $0.06–0.07 is possible. A bounce from the current resistances back to $0.03–0.028 is also realistic.
⚠️ Risks:
The Ichimoku cloud is still bearish, and the overall market may influence the dynamics of MDT. Without a consolidation above $0.0486, the trend reversal is not confirmed.
💬 Conclusion: MDT shows the first signs of exiting a prolonged downtrend 📊. It is interesting for medium-term traders, but requires confirmation by breaking through key zones.