Price: 0.5942 | EMA7: 0.6 | EMA25: 0.61 | RSI14: 32.71 | Resistance: 0.705 | Support: 0.56 | Average Volume: 1081362.31 | Volume Trend: Decreasing
Based on the 1-hour chart, here's my analysis:
The price is currently testing the 50% Fibonacci level of the recent downtrend. The RSI is oversold, indicating a potential bounce.
As for the trades:
* Long/Short entry price: 0.5920-0.5950. These levels are close to the recent low and could provide a good entry point for a bounce.
* Best spot buy price: 0.58-0.59. This level is a strong support zone and could provide a good entry point if the price bounces off it.
Remember to set stop-losses and adjust stops accordingly based on market volatility.
Disclaimer: This is not investment advice. Users should do their own research and take calculated risks before entering any trades.