Price: 1.205 | EMA7: 1.23 | EMA25: 1.18 | RSI14: 51.6 | Resistance: 1.657 | Support: 0.399 | Average Volume: 22809906.66 | Volume Trend: Decreasing
Based on the technical analysis:
- ETHFIUSDT is trading near its EMA7, indicating a possible short-term upward trend.
- However, it's below EMA25, indicating a possible bearish trend.
- The RSI14 (51.6012) is in the neutral zone.
- MACD is slightly positive but not strong.
- Volume trend is decreasing, which is not favorable.
Considering the overall data, a Long position may be considered, but the risk is not high. The entry point could be:
- Buy at the close of the current candle if it's above 1.184 (EMA25), with a target of 1.657 (Resistance).
- Wait for a daily bullish engulfing pattern confirmation for better entry accuracy.
For a Short position:
- Wait for a stronger bearish signal, like a daily bearish engulfing pattern or a break of the EMA25.
For a Spot Buy:
- Consider buying at around 1.00, closer to the support level of 0.399, to maximize gains in case of a strong bounce back.
Caution: Volume trend is decreasing, which may lead to false breakouts or reduced price movement.