The market is consistent with our last analysis

The market is consistent with our last analysis. The price rose by about 6% in 24 hours. On the daily line, MFI is still in the overbought region. In the short term, 47,000 USDT is a strong resistance. Looking at the 15-minute line, a small “V” shape was formed and now the price is gaining. The support is around 45,300 USDT and it's still very strong. RSI and KDJ turn up; MACD moves above the zero axis; the Bollinger band opens, and a small golden cross appears.

The price will continue to climb in the evening and it will test 47,000 USDT for the second time. Once it breaks through, it will go directly to 50,000 USDT. Otherwise, there will be a drop and the bottom will be around 42,500 USDT in the short term.