Price: 0.9985 | EMA7: 1 | EMA25: 1 | RSI14: 50.64 | Resistance: 0.9999 | Support: 0.9981 | Average Volume: 12263752.26 | Volume Trend: Decreasing
Based on the technical analysis of FDUSDUSDT at 1h:
- The price is hovering near the long-term EMA25 (0.99848618482289), indicating a short-term uptrend.
- The RSI14 is around 50.637988226313, indicating a neutral market condition, not overbought or oversold.
- The MACD is slightly positive, suggesting a weak buying momentum.
- The short-term EMA7 is at the same level as the current price, indicating a brief touch with short-term support.
- The decreasing volume trend, on the other hand, could be a sign of a lack of conviction in the current price movement.
Based on this analysis, the advised long entry price would be at the current price level of 0.9985, or slightly above it to the nearest level with a 0.01 interval, which would be 0.9986. This is because the chart is showing a weak uptrend, and the price may still appreciate.
For a long/short entry strategy, consider purchasing above 0.9986 and selling below 0.9981. Since this a 1h candle and on a pair where the major currency is the US Dollar the volatility may vary hence always keep to track of the chart to limit potential losses.
The advised spot buy price would be slightly below the current price level of 0.9985, given the short-term support from the EMA7 and the general uptrend suggested by the EMAs. A suitable spot buy price would be 0.9984, or 0.9983, allowing for a potential correction before the price moves upwards. It could also be at a 0.01 interval of the support 0.9981.