Price: 0.9029 | EMA7: 0.87 | EMA25: 0.98 | RSI14: 46.3 | Resistance: 6.06 | Support: 0.1653 | Average Volume: 36671117.82 | Volume Trend: Decreasing
Based on the 1-week chart analysis of FTTUSDT, here's my observation:
- The short-term EMA7 (0.87422131264207) is below the price (0.9029) and the long-term EMA25 (0.97976450620835), indicating a bearish trend.
- The RSI14 (46.300114643304) is below 50, indicating the price is in a downward phase.
- The MACD is negative and below 0, indicating a bearish momentum.
- Volume Trend is Decreasing, which may suggest weak buying pressure.
- Current price is close to the Support level (0.1653), but far from the Resistance level (6.06).
Considering the bearish trend and weak buying pressure, I would recommend the following:
- Long/Short Entry Price: Look for a bounce off the Support level at 0.1653. A short position can be taken when the price hits around 0.195-0.220. A long position can be considered when the price bounces back and forms a high around 0.250-0.280.
- Best Spot Buy Price: The support level at 0.1653 seems to be a good buying opportunity. You can consider a long position when the price touches or bounces above this level.
**Disclaimer:** Technical analysis is not a guarantee of future price movements. Please consider multiple factors and risk management strategies before making any investment decisions.