The SPACE ID price analysis demonstrates the price’s recent upward trend, with the price currently rising to the $0.480 mark due to renewed bullish impetus. The price of the cryptocurrency pair has been fluctuating steadily over the past few weeks, but it has been trending downward. However, starting yesterday, the bulls have taken control of the market, and the price is now climbing for a second day.
ID/USD 1-day price chart: ID rejoins $0.480 after gaining 6.5 percent
According to SPACE ID price analysis, the price is rising as a result of the positive momentum that has been steadily advancing since yesterday. As bulls attempt to break the downtrend, the price has risen above $0.480 due to the bullish trend, representing a gain of 6.5 percent over the previous day. Again reflecting the negative pressure, the SMA 20 curve is still trading below the SMA 50. The moving average indicator (MA) has maintained its value at $0.499 due to the generally modest growth. Bulls had yesterday, but today they are moving slowly as the price is getting close to the resistance level.
Since the volatility has been rather strong, additional uptrends could develop in the future. The upper band of the Bollinger bands is at $0.763, which represents resistance, and the bottom band is at $0.409, which represents support. After the price increase, the Relative Strength Index (RSI) score is currently balanced at index 37, but because the price increase has been rather modest, the RSI is now trading at a horizontal line.
SPACE ID price analysis: Recent developments and further technical indications
The price gain that has occurred as a result of the bulls’ recent rebound is confirmed by the four-hour SPACE ID price analysis. After the bears drove the price down, they dramatically increased it yesterday. The bulls were able to reverse the loss, but as the price oscillation is now sluggish, it appears that they are now weary. The moving average (MA) indicator is currently at the $0.460 level and is moving in the direction of the Bollinger bands average line.
Despite the possibility of a crossover between the SMA 20 and SMA 50 curves today, the current situation indicates a slowdown in bullish development. The upper value of the Bollinger bands indicator is $0.507, while the lower value is $0.433. The RSI’s current score of 49, which indicates neither buying nor selling, has helped it avoid a downturn in its curve due to the positive momentum.
SPACE ID price analysis: Conclusion
According to the one-day and four-hour SPACE ID price analysis, today’s price has increased as well. After the positive continuation, the price was seen to be at $0.480. A new rise will start if the cryptocurrency is able to overcome the $0.498 obstacle.
