Price: 0.4209 | EMA7: 0.44 | EMA25: 0.47 | RSI14: 41.64 | Resistance: 1.0384 | Support: 0.21 | Average Volume: 3314647.59 | Volume Trend: Decreasing
Based on the daily chart technical analysis of DIA/USDT, here's my assessment:
- Prices are below both EMAs, indicating a bearish trend.
- RSI (41.64) is in the oversold region, suggesting a potential bounce.
- MACD is bearish with a negative value, supporting the downtrend.
- Decreasing volume trend indicates a lack of buying interest.
**Recommendation:**
- Short sell: Consider entering a short position when price approaches the EMA7 (0.4427), which acts as a dynamic resistance.
- Best short entry price: 0.435 (near the EMA7) or 0.440 (slightly below), considering the risk-reward ratio.
- Stop loss: Place a stop loss above the local highs (near 0.460-0.465) to limit potential losses.
**Spot Buy Recommendation:**
Avoid buying at the current levels, as the bearish trend and oversold RSI suggest a potential downturn.
However, if you still want to go long:
- Consider buying when price breaks above the moving averages (EMA7 & EMA25) and shows increasing volume.
- Best spot buy price: 0.450-0.455, considering the break above the moving averages and improving volume trend.