Price: 0.1452 | EMA7: 0.14 | EMA25: 0.13 | RSI14: 74.65 | Resistance: 0.1753 | Support: 0.1176 | Average Volume: 1783703.61 | Volume Trend: Decreasing
Based on the 4h chart of HOOKUSDT, the following observations can be made:
1. The market is overbought as RSI14 is above 70, indicating potential for a short-term correction.
2. EMA7 and EMA25 are trending upward, indicating an uptrend, but the convergence of these lines is weakening.
3. MACD is neutral with a reading close to 0, indicating no strong trend.
4. Volume is decreasing, which can indicate a lack of momentum in the current trend.
5. Resistance is at 0.1753, and the current price is below it, so further push-up is needed to break this level.
For a Long/Short entry:
- Long entry: 0.1300 (just above Support) for a bigger target at 0.1753 and a stop-loss at 0.1200.
- Short entry: 0.1700 (before a potential pullback) for a target at 0.1176 and a stop-loss at 0.1800.
For a spot buy:
- Wait for the price to touch the Support at 0.1176 and buy at 0.1180 for a break-out target at 0.1753 and a stop-loss at 0.1100.
Please note that these are just suggestions and not investment advice. It's always recommended to do your own research and consider multiple factors before making trading decisions.