Price: 3.012 | EMA7: 3.01 | EMA25: 2.94 | RSI14: 69.63 | Resistance: 3.105 | Support: 2.483 | Average Volume: 257396.46 | Volume Trend: Decreasing
Based on the 1-hour chart of FILUSDT, I would advise caution before entering any trades.
The MACD is slightly above the zero line, indicating a bearish crossover is possible.
The RSI14 of 69.63 suggests the price is overbought, potentially leading to a price correction.
Given the EMA25 is below the EMA7, there's a bearish trend.
For a potential long entry, I would recommend waiting for a strong bounce and a bearish crossover on the MACD, around the support level of 2.83. A long entry price could be around 2.92.
For a potential short entry, consider selling around the resistance level of 3.10, or when the MACD crosses the zero line, a short entry price could be around 3.05.
It's essential to wait for confirmation and use proper risk management. Nevertheless, a spot buy price is not recommended at the current overbought level and decreasing volume trend.
As a long/short technical analyst, I recommend to open a position when the signals become stronger and in favor of your strategy.