Price: 1.912 | EMA7: 1.91 | EMA25: 1.86 | RSI14: 68.19 | Resistance: 1.978 | Support: 1.592 | Average Volume: 25485.78 | Volume Trend: Decreasing
Based on the 1h chart of DEGOUSDT, the analysis is as follows:
- The EMA7 is above EMA25, indicating a short-term uptrend within a longer-term downtrend.
- RSI14 is above 50, but not extremely high, suggesting the asset is overbought but still has potential for further growth.
- The MACD is positive but not exceptionally high, indicating a potential for continuation of the trend.
- The volume trend is decreasing, which could be a warning sign for the strength of the uptrend.
Considering these factors, a Long entry could be considered around 1.88-1.90, slightly below the current price. This allows for a potential entry with a bit of leverage, as the asset is nearing overbought conditions.
However, for a Short entry, it's best to wait for a stronger sell signal. For now, the asset is on a short-term upswing, so it's better to look for bearish reversals or a clear rejection of the current level around 1.92.
The spot buy price is subjective and depends on individual risk tolerance and investment strategy. However, based on the provided data, it seems like the price is reaching a potential peak around 1.92. Considering the Resistance (1.978) and Average Volume (approximately 25k), it might be a good option to consider buying around the 1.88-1.90 mark, as it provides a better risk-adjusted entry for an uptrend continuation.