Cryptocurrency altcoin ID, governance token of SPACE ID, started this week by facing a fall of 27.24%. With a market cap of $198,055,743, ID is currently trading at $0.6502 after a 6.50% dip in the last 24 hours. According to CoinMarketCap, the trend for ID is still moving downwards away from the 200 MA indicator, leading ID to the Weak Low region at 0.57208. Indicators such as MACD line, histogram model and RSI are also confirming bearish sentiment for the coin.

MACD line which is the difference between fast and slow moving average is currently below the signal line, thus, confirming the bearish trend. The histogram model is also showing an increase in red bars ensuring that the altcoin might continue to fall further. On the other hand, RSI which is an oscillator indicator is currently at 32.15, indicating weak trend. The RSI is below the SMA line, thus, suggesting bearish sentiment. However, hope persists as the RSI is pointing upwards.

Furthermore, if ID breaks the Weak Low, it could continue to plummet to the Support level. On the contrary, if the altcoin breaks the Resistance level then it could reach the Strong High level at 0.93716. Finally, traders should be cautious of any opportunity for trend reversal as most of the indicators point out that ID could continue in the bearish sentiment.



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