Price: 0.8534 | EMA7: 0.78 | EMA25: 0.7 | RSI14: 76.96 | Resistance: 0.9857 | Support: 0.2 | Average Volume: 14260519.7 | Volume Trend: Decreasing
Based on the 4-hour chart of INITUSDT, here's my technical analysis:
1. **Overbought condition**: The RSI14 is at 76.96, indicating an overbought condition, which often leads to a price correction.
2. **Bearish crossover**: The EMA7 is above the EMA25, suggesting a bearish trend.
3. **Increasing momentum**: The MACD is positive at 0.0385, indicating a slight increase in buying pressure.
4. **Weak volume**: The volume trend is decreasing, indicating a lack of interest from traders.
**Recommendation**:
* **Long/Short entry**: I would consider a **Short** position at the current price (0.8534) or wait for a reversal below the EMA25 (0.6973). This would require a price drop of about 17.5%, which could trigger a bearish momentum.
* **Long/Short exit**: Set a stop-loss above the recent highs (0.9857) to limit potential losses.
* **Spot buy**: Wait for a **Lower** spot price, closer to the support level (0.2), to consider a spot buy. This would require a price drop of about 76.4%, which is a high-risk purchase.
Please note that technical analysis is subjective and may not always be accurate. Always use these recommendations as a guide and adjust according to your own risk tolerance and trading strategy.