🤖 AI Insight

Based on the provided technical indicators, here is an analysis of the ILVUSDT (Illuvium price in USDT):

1. Short-term picture: The price is below the exponential moving averages (EMAs) 7, 25, and 100, indicating a downward trend in the short term. The Relative Strength Index (RSI) suggests that the asset may be oversold, and the MACD is below the signal line, further supporting a possible bounce. However, the volume is decreasing, which is not optimal for a short-term entry.
2. Medium-term picture: The price is below the EMA200, while above the EMA7. The RSI is near its oversold area, and the MACD is also within a bearish zone. A potential resistance is near 162.29, and support is at 9.05. These levels indicate an upward trend with some weakness.
3. Best Short Entry Suggestions: Experiment with the following short entry prices:
a. A close below the EMA10 looks challenging due to the decreasing volume.
b. An entry around the recent swing low ≈ 9.30 should provide a better chance considering the decreasing volume and closer proximity to the support at 9.05.

4. Best Long Entry Suggestions: Due to the decreasing volume and the price being below various moving averages, consider waiting for these conditions to improve:
a. Wait for a close above the EMA200 or a break above 13.95 to initiate long positions.

5. Best Spot Buy Suggestions: Given that the asset price is decreasing with declining volume, you may wait for these conditions to improve before buying:
a. Wait for an upside breakout above 162.29 resistance or wait for a closely related support level (14.06) to be tested and hold strong.

These suggestions can help you choose a more reliable trading setup, reducing the risk of being caught in an extended market move. Though the market looks bearish in the short term, it has exhibited some positive signals in the medium term. Always adapt risk management strategies while trading and make sure you are familiar with the fundamentals to guide your trading decisions.