Price: 5.04 | EMA7: 5.01 | EMA25: 5.04 | RSI14: 49.27 | Resistance: 5.72 | Support: 4.73 | Average Volume: 30792.87 | Volume Trend: Decreasing
In this 1-hour analysis of NEOUSDT, we see the current price at 5.04. Considering the EMA7 (5.0092431204801) and EMA25 (5.0392841703091), the support level seems to be around the EMA7, which is currently near 5.01. The RSI14 indicator shows the market is slightly oversold around 49.26, so an upward surge is anticipated. MACD appears to be in a positive position.
The resistance level is determined as 5.72. Based on the RSI indicating oversold conditions and the positive MACD, a potential buying opportunity exists. The support level is found at around 4.73. The best entry strategy would be waiting for a pullback towards the support level (4.73) before initiating a Long position.
To enter a Short position, we recommend waiting for a break below the support level (4.73) to initiate the trade, targeting the resistance level (5.72). Regarding the Long/Short entry prices, look for a clear pullback near the support level (4.73) to buy NEO ("Long"). For a Short position, wait for a breakdown below support (4.73); in that case, the target would be the resistance level 5.72. Ensure you are well versed in risk management and stop-loss placement while employing these strategies.