Price: 0.0791 | EMA7: 0.08 | EMA25: 0.08 | RSI14: 45.79 | Resistance: 0.1279 | Support: 0.0719 | Average Volume: 3792318.99 | Volume Trend: Decreasing
Based on the provided technical analysis, here's a summary:
1. Price: Long-term bullish trend signaled with a price of 0.0791. This price level is above the EMA7 (0.0781) and EMA25 (0.0800).
Recommended Long entry point: Wait until the price exceeds the EMA25 (0.0800) and confirms a bearish to bullish trend reversal.
2. EMA7 and EMA25: These short-term and medium-term moving averages indicate a gradual upward trend. Price is near a support level between these two averages.
3. RSI14: Currently at 45.789, within the neutral zone (between 30 and 70), suggesting a short-term flat market. Consider trading with directional signals besides RSI.
4. MACD: Traditionally low signals (-0.0021754478392099), indicating neutral to bearish market conditions.
5. Resistance: Strong resistance at 0.1279, where you might find potential sell positions after confirming a bearish trend continuation.
6. Support: Strong support at 0.0719, where you might find potential buy positions after confirming a bullish trend reversal.
7. Volume Trend: The volume trend is decreasing which could be a potential concern for market momentum. We advise to carefully monitor volume patterns along with price movements while making trading decisions.
Recommendations:
1. Long entry: Wait for price close above EMA25 (0.0800) and RSI turns bullish.
2. Short entry: Wait for price close below the EMA7 (0.0781) and RSI turns bearish. Make sure to consider other technical indicators or patterns before entering trades.
To find the best spot buy (Bullish):
Wait for:
- Price close above the EMA7 (0.0781)
- RSI reaches above 60 or shows a bullish crossover
To find the best spot sell (Bearish):
Wait for:
- Price close below the EMA25 (0.0800)
- RSI reaches below 40 or shows bearish crossover
Always ensure to consider the bigger picture, such as the mid-term trend and macro-economic events, along with these technical indicators before making trading decisions. Stay vigilant about volume analysis as well.