Price: 106.99 | EMA7: 108.96 | EMA25: 109.3 | RSI14: 42.03 | Resistance: 130 | Support: 97.8 | Average Volume: 696.76 | Volume Trend: Decreasing
Based on the 4h chart, here's my analysis:
GNOUSDT is currently in a downtrend, with prices below both EMA7 and EMA25. The RSI14 is at 42, indicating a neutral/bearish zone. MACD is above the zero line, but the histogram is decreasing, suggesting a potential bearish crossover.
Given this setup, I would recommend the following:
**Short Entry:** Look to short around 108.50-109.00, targeting 103.50-104.00. Stop-loss above 111.00.
**Long Entry:** Wait for a break above 111.00, with a retest of the broken resistance as support. Entry around 112.00, targeting 117.00-118.00. Stop-loss below 108.50.
**Spot Buy Price:** Not recommended at this time, as the trend is bearish and prices are below key EMAs. Wait for a bullish reversal signal or a break above 111.00 before considering a long position.
Please keep in mind that this analysis is based on a 4h chart and market conditions can change quickly. Always use proper risk management and consider multiple time frames before making a trading decision.