Price: 1.381 | EMA7: 1.33 | EMA25: 1.35 | RSI14: 52.43 | Resistance: 2.26 | Support: 1.115 | Average Volume: 2425434.58 | Volume Trend: Decreasing
Based on the provided technical analysis chart of EPICUSDT over the last 1-day period, here are some insights and advice:
1. Short-term trends: The price is slightly increasing as the EMA7 (1.3309814983856) and EMA25 (1.3451209692434) are pointing upwards. The RSI14 (52.42825519637) is indicating a neutral stance with potential for further bullish movement. The MACD suggests a bearish divergence but not yet conclusive.
2. Resistance: Draw a resistance level at 2.26, setting a long-term goal focus on breaking this level to confirm a strong bullish trend.
3. Support: Protect your investment by identifying the support level at 1.115. A break below this level suggests negative pressure in the market, leading to potential bearish moves.
4. Levels of Interest: Watch out for key levels like previous highs and lows, pivot points, and Fibonacci retracement levels to fine-tune your trading strategy.
5. Volume Trend: The average volume (242,543.58) is decreasing, which can potentially lead to weaker liquidity and wider spreads during peak trading periods.
To make the best decision when entering or exiting a position, consider integrating additional indicators and confirming patterns with your analysis. For a more precise strategy, update your chart regularly and analyze various timeframes.
As for the best Long/Short entry prices, I recommend:
- Entering a long position (buying) if the price breaks above the 2.26 resistance level with a confirmed increase in volume for the signal to hold its reliability.
- Entering a short position (selling) if the price drops below the 1.115 support level while confirming it in correlation with other indicators.
Remember that these are general guidelines, and personalized advice requires a thorough analysis of relevant market data, risk tolerance, and trading experience. Make sure to perform your own analysis before deciding on a trade.