Price: 14.62 | EMA7: 14.36 | EMA25: 13.55 | RSI14: 74.8 | Resistance: 14.9 | Support: 10.32 | Average Volume: 5216.54 | Volume Trend: Decreasing
Based on the given data, the analysis indicates:
* The price is currently at 14.62, near the resistance level of 14.9.
* The EMA25 is below the EMA7, suggesting a possible short-term upward trend.
* The RSI14 is around 75, indicating overbought conditions.
* The MACD is positive and above 0, indicating a potential upward momentum.
* The volume trend is decreasing, which may indicate a lack of strong buying pressure.
Advice:
- For a long position: Bullish setups are not entirely favorable given overbought conditions. Wait for the price to drop to around the EMA25 level (13.55) where a short-term support might develop. This would be an opportunistic long entry price. However, you should consider this a high-risk trade considering the RSI14.
- Short position: Since the price is near resistance, and the RSI is in overbought territory, a bearish setup is likely. Consider a long-short position with a long entry about equal to the last hourly close. The spot buy price is 14.62 (high risk). The long entry for a good risk/reward can be at a closer distance but about equal to support around 14.3 (slightly optimistic and still offers moderate profit)