LIBRA/USDT Declines as Volatility Eases

The LIBRA token is a newly launched cryptocurrency with limited trading history. However, the market initially experienced high volatility before trading activity stabilized. This may have been influenced by various factors. Let’s take a closer look at the market below.

LIBRA Statistics:

LIBRA Current Price: $0.1419

Market Capitalization: $36.88M

Circulating Supply: 256.43M

Total Supply: 999.99M

CoinMarketCap Rank: 635

Key Price Levels:

Resistance: $0.1500, $0.2000, $0.2500

Support: $0.1400, $0.1100, $0.0800

LIBRA/USDT Declines Steadily

As mentioned earlier, price activity in the LIBRA daily market was initially volatile. However, a gradual reduction in price fluctuations has occurred, as reflected in the price of candles. Additionally, bears have been in control for the past seven sessions.

That said, bearish momentum appears to be weakening, as indicated by the recent price candles. Technically, this suggests that downward forces may soon lose momentum.

LIBRA Maintains a Bearish Path

Extending the price analysis to the LIBRA/USDT 4-hour chart, price action remains predominantly bearish. Since February 18, all price candles have been forming below the available Moving Average (MA) lines. Even the ongoing session has appeared as a red-price candle.

Furthermore, the Stochastic RSI lines have fallen back into the oversold region. As a result, traders can anticipate that the market may approach the $0.1300 price level.

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