Price: 0.000664 | EMA7: 0 | EMA25: 0 | RSI14: 20.52 | Resistance: 0.002926 | Support: 0.000636 | Average Volume: 2519456012.67 | Volume Trend: Decreasing
Based on the technical analysis provided for HMSTR/USDT, here is a recommendation on the best entry points:
Short Term Strategy:
1. Entry for a short position: Consider entering the short position when the price reaches the Average Volume (around 0.000636) and when the Moving Average Convergence Divergence (MACD) cross from the positive side to the negative side, indicating a potential downtrend. A trailing stop-loss can be set slightly above the Average Volume level for better risk management.
Long Term Strategy:
1. Entry for a long position: Wait for a possible uptrend reversal triggered by a consolidation/pullback of the price towards the Support level (0.000636) or the moving averages (EMA7, EMA25). These entry points provide better probability of a bullish breakout. A stop-loss slightly below the Support level helps manage risk.
It's crucial to keep an eye on new technical indicators such as Moving Averages and Relative Strength Index (RSI) for potential confirmation and signal adjustments as the market develops. Remember to consider your overall portfolio risk tolerance level and align your decision to fit your trading style and goals.