Price: 0.0797 | EMA7: 0.08 | EMA25: 0.08 | RSI14: 56.17 | Resistance: 0.088 | Support: 0.0639 | Average Volume: 4635513.15 | Volume Trend: Decreasing
Based on the 4h chart of CHRUSDT, here are my observations:
- The price is trading below the EMA25, indicating a bearish trend.
- The RSI14 is at 56.17, which is in a neutral zone, indicating neither overbought nor oversold conditions.
- The MACD is slightly positive, but the overall trend is downward, indicating a potential reversal.
- The decreasing volume trend could lead to further price weakness.
- The price is close to the support level at 0.0639, indicating a potential bounce.
Best Long entry: Consider buying at the resistance level around 0.088 with a stop-loss below the support level 0.0639.
However, since the overall trend is bearish, the best strategy might be to wait for a bounce or reversal. The current support level around 0.0639 could be a good target for long entry.
- Best Long entry price: 0.078 (around 0.0639 + 15% to account for price movement)
- Best spot buy price: No clear buy signal; wait for a bounce or reversal around the support level 0.0639
Best Short entry: Consider selling at the resistance level around 0.088 with a stop-loss above the EMA25. Alternatively, wait for a price break above the resistance level, indicating a potential continuation of the bearish trend.
Keep in mind that these are hypothetical suggestions and may not guarantee accurate predictions. It's essential to set proper stop-losses and adjust your strategies accordingly based on your risk tolerance and market conditions.