Price: 0.574 | EMA7: 0.59 | EMA25: 0.62 | RSI14: 42.19 | Resistance: 1.062 | Support: 0.535 | Average Volume: 8570643.19 | Volume Trend: Decreasing
Based on the 1-day chart of IOUSDT, here are my observations:
- The price is currently at 0.574, which is below the EMA7 (0.5913) and EMA25 (0.6187), indicating a bearish trend.
- The RSI14 (42.19) is below the neutral zone (50), suggesting the market momentum is bearish.
- The MACD is negative (-0.0196), also indicating a bearish trend.
- The volume trend is decreasing, which can confirm the bearish momentum.
Considering the price movement and indicators, I would recommend:
- Short entry price: 0.563 (near the current support level and a potential bounce point)
- Long entry price: 0.595 (above the EMA7, a potential level of resistance)
However, since we can't see the long term charts from the data, be sure to analyze the 4 hour or 2 hour charts in conjunction to find optimal entry points.
For a spot buy, wait for price to test and close above EMA25 at 0.6187. This could be a potential level of long entry.