Price: 0.1069 | EMA7: 0.11 | EMA25: 0.11 | RSI14: 48.43 | Resistance: 0.1095 | Support: 0.1029 | Average Volume: 216180.51 | Volume Trend: Decreasing
Based on the 15-minute chart, ICXUSDT is currently trading above its short-term EMA7 support. The RSI is trending downwards, indicating a weakened bullish momentum. The MACD is also bearish. However, the distance between the price and the next level of support (0.1029) is relatively safe.
Recommendation:
* For a Long position:
+ Entry: 0.1055 (approximately 2-3% below the current price) for a higher probability of reaching the nearest resistance level (0.1095).
+ Stop loss: 0.1029 (nearest support level).
* For a Short position:
+ Entry: 0.1095 (nearest resistance level) for a potential reversal and a higher chance of reaching the next support level (0.1029).
+ Stop loss: above 0.1115 to limit potential losses if the price breaks through the resistance.
For a Spot Buy:
* Consider a spot buy at or below 0.1040, if the price forms a bullish pattern such as a hammer or an inverted head and shoulders. However, be cautious due to the decreasing volume trend and the bearish MACD.