Price: 0.01257 | EMA7: 0.01 | EMA25: 0.02 | RSI14: 29.27 | Resistance: 0.03528 | Support: 0.01227 | Average Volume: 36652551.66 | Volume Trend: Increasing
Based on the 1-day chart, here's my technical analysis:
The RSI14 is indicating an oversold condition (29.26), which could lead to a potential bounce. However, the MACD is still bearish, indicating a possible continuation of the downtrend.
Considering the support level at 0.01227, I'd recommend a long entry at around 0.0124, with a stop-loss at 0.0121. If the price breaks above the EMA7 (0.0137), it could be a signal to go long.
As for a short entry, I'd suggest waiting for a rejection at the resistance level of 0.03528, with a stop-loss above 0.036. The increasing volume trend could indicate a potential move upwards, but we need to be cautious of the bearish MACD.
Spot buy price: 0.0124
Best Long entry: 0.0124 (stop-loss at 0.0121)
Best Short entry: Wait for a rejection at 0.03528 (stop-loss above 0.036)