TSUKA price forecast: TSUKA breaks the support, what’s next?

• TSUKA price prediction: The coin has broken major support, is it the end?
• MACD, RSI, and EMA are all showing bearish momentum soon.
• Who is the Japanese dragon related to TSUKA?

About TSUKA

TSUKA launched in May 2022, is a meme coin, based on a Japanese fantasy dragon known as Dejitaru Tsuka Dragon.  TSUKA is built on ERC-20, it is decentralized and is entirely run by a Buddhist community called “Sangha”

TSUKA coin Previous Price Action and Forecasting

TSUKA’s Previous Price Action

The TSUKA coin started raising after July 2022. The first significant candle was shown on July 18, 2022, when it reached $0.0447, TSUKA coin rose to its all-time high in September 2022 reaching a level of $0.2472 which was 4.5 times the level of July. 

Soon at that point, the bears came up, which resulted in the coin crashing down to $0.03866. Following some fights up and down resulting in consolidation between an average cap of $0.15 and a floor of $0.027

ZYB’s Current Price Action

Currently after testing the support of $0.0294 after 5 times, the coin has come down, but it can be a deviation for the bears, until this is confirmed we have a few more supports and resistances.

Support: The support is broken for the moment which was at the level of $0.0294, we will see more insights on this support at the end of the article. Support 2 is seen at the level of $0.0156 which was made a year ago in July 2022. third support is made on the level of $0.0018 

Resistances: The Resistances are having wider ranges as a continuous downtrend is seen on graph Resistance 1 which is the immediate price rejection level for the coin is seen at the level of $0.0466. The second resistance is at the level of $0.0617.

Indicators

MACD: The signal line of MACD is still over the top, fighting with bears to come down. Recently the gap between the two has increased by a significant margin showing a bearish momentum ahead.

RSI: The levels of RSI are weak, at the point of 36 it is followed by a downtrend. If the price reaches the level of 30, then some reversal can be seen

EMAs: The 50 EMA crossed 100 EMA a little while ago in the end days of April 2023, and the difference between 2 is getting wider, currently the 50 EMA stands above the price at $0.0346 and the 200 EMA is at the level of $0.0491

Is TSUKA worth buying now?

The prediction for TSUKA will stay along the likes of MACD, RSI, and EMAs as all are showing a downtrend shortly. The price took a resistance from the 200 EMA and came down, as the MACD line is far below the signal line. The price has also seen to break the current support. These all are possible indications of bearish momentum in the short term.

Conclusion

TSUKA is a decentralized meme coin that is run by a Buddhist community. The price of TSUKA has been in a long downtrend for a year, currently, it has broken support and the indicators are showing a bearish momentum

Technical levels

Support: $0.0294, $0.156, $0.00186

Resistance: $0.0466, $0.0617

RSI: 36

50 EMA: $0.034

200 EMA: $0.0491

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.