🤖 AI Insight

Based on the provided technical analysis, we can extract the following information, which involves both short and long entry points as well as a possible spot buy price for EGLDUSDT:

1. Short Entry Points
* Longer-term (7-day EMA): Current price is slightly above the 7-day exponential moving average (EMA = 15.436689632679) at $14.99. However, if the price drops below this level (e.g., to around $14.50 or lower), this could indicate a potential to short the asset.
* Mid-term (25-day EMA): Currently at $16.248979638566, which is just below the current price. A drop below this level ($16 or lower) might provide a good opportunity to short the asset as well.
2. Long Entry Points
* Short-term (14-day RSI > 50): Considering the RSI is currently at 41.053274787004 and has some room to climb above the neutral line (its current position is below the midline), waiting for the RSI to cross above 50 could indicate a potential buy signal.
3. Best Spot Buy Price
Since we are discussing short entries, we can concentrate on the buy side here. As a potential spot buy price, taking into account the technical analysis indicators, a reasonable entry level would be right before significant support levels such as $11.77 support (suggested range: $12-$13). Pay attention to the market order flow and risk management strategies, as advised in these conditions:

• Keep your stop loss orders above the latest high ($15.27) at a reasonable distance ensuring an adequate risk⁄reward ratio.
• Wait for a bullish cross of the MACD (Moving Average Convergence Divergence) to ensure market sentiment has shifted bullish, typically represented by a positive MACD value (currently -0.61682931971191).

Adherence to these conditions strengthens the chances for a successful long position on EGLDUSDT.