Technical analysis by ItsNutsTrades about Symbol XCN: Buy recommendation (2/12/2025)

Downtrend with Potential Reversal: The price has been in a consistent downtrend, but a bullish inverted hammer is forming, which could indicate a reversal. The price is currently sitting near a strong support zone (marked in red). Support & Resistance Levels: Support Levels: Around $0.0186, $0.0183, and $0.0158 (red zones). Resistance Levels: $0.0217 (yellow), $0.0251, $0.0268, $0.0303, $0.0341, $0.0493, and $0.0611 (green zones). Indicators & Moving Average: The moving average (MA) is above the current price, acting as resistance. A possible breakout above the MA could indicate further upside movement. Bullish Scenario (Green Path Projection): If price breaks above $0.0217 and $0.0251, we could see a strong recovery towards $0.0341 and potentially $0.0493 or higher. Bearish Scenario: If price fails to hold support around $0.0186 - $0.0158, further downside could be seen.Conclusion: A reversal seems likely, but confirmation is needed (break above resistance). Watch for volume increase and price action near key resistance levels before making a move. If bullish momentum builds, the price could follow the green trajectory towards $0.0341 - $0.0611.