Price: 1.216 | EMA7: 1.22 | EMA25: 1.23 | RSI14: 44.35 | Resistance: 1.528 | Support: 1.168 | Average Volume: 1538197.06 | Volume Trend: Decreasing
Based on the 4-hour chart of EIGENUSDT, here's my technical analysis:
* The price is currently below the EMA7 and EMA25, indicating a bearish trend in the short-term.
* The RSI14 is at 44.35, which suggests that the asset is not oversold yet, and there might be more room for a downside move.
* The MACD is negative, further confirming the bearish trend.
Recommendations:
* Short entry: 1.216 (current price) with a stop-loss at 1.234 (above the EMA25). Target: 1.168 (support level).
* Long entry: 1.168 (support level) with a stop-loss at 1.156 (below the support). Target: 1.234 (EMA25).
Spot buy recommendation: No spot buy recommendation at this time, as the trend is bearish. Wait for a reversal sign or a break above the EMA25 before considering a long position.
Please note that this analysis is based on a 4-hour chart, and prices can change rapidly. It's essential to monitor the chart regularly and adjust your positions accordingly.