Price: 0.812 | EMA7: 0.85 | EMA25: 0.92 | RSI14: 25.76 | Resistance: 1.234 | Support: 0.801 | Average Volume: 2430568.12 | Volume Trend: Decreasing
Based on the provided 4h technical analysis of EIGENUSDT:
- The price is currently below the EMA7 and EMA25, indicating a bearish trend.
- The RSI14 (25.76) is in the oversold territory, suggesting a potential bounce.
- The MACD is negative, indicating bearish momentum.
- The Volume Trend is Decreasing, which might lead to a false breakout.
- With an overbought EMA25 compared to EMA7, a potential bearish crossover is likely.
I recommend the following:
- Long/Short entry: 0.81 (~ 0.01 above the support level), waiting for a confirmation signal like a bullish crossover (EMA7 > EMA25) or a rise in volume.
- Long entry: 0.80 (support level), consider a stop-loss around the support level at 0.801 and a take-profit above the EMA25 (0.92) or the Resistance level (1.234).
- Spot buy: Be cautious due to the decreasing volume and bearish momentum; avoid buying now unless you're an aggressive trader with a solid trading plan. The best spot buy price would be when the conditions are favorable, for example, after a clear bullish trend and a rise in volume.
Please note that technical analysis is not a substitute for fundamental analysis or financial advice.