Price: 1.102 | EMA7: 1.12 | EMA25: 1.16 | RSI14: 32.67 | Resistance: 1.398 | Support: 1.097 | Average Volume: 867287.34 | Volume Trend: Decreasing
Based on the 1-day chart analysis, the current NEXOUSDT price is around 1.102. Here are the key indicators and suggestions:
1. EMA7: The seven-day Exponential Moving Average is at 1.1231201380868. Keep an eye on this moving average for potential price support or resistance levels. Taking a long position when prices cross above this EMA could be a promising signal.
2. EMA25: The 25-day Exponential Moving Average stands at 1.1585076653146. This value could serve as a strong resistance point, as suggested by the increasing distance between the EMA25 and the current price. Wait for a possible breakout before considering a long position.
3. RSI14 (32.66): The Relative Strength Index (RSI) at 14 days reaches 32.667480314625. An oversold market may present a buying opportunity, as a potential rebound could be expected.
4. MACD: The MACD (Moving Average Convergence Divergence) at -0.02781345353885 shows a bearish signal as the MACD line stays below the signal line. However, there hasn't been any clear trend reversal yet.
5. Resistance: The significant resistance level is identified as 1.398. It suggests the potential price ceiling and could be taken as a profit target once the position is initiated as a long.
6. Support: The immediate support is observed at 1.097. Maintaining above this level might indicate bullish conditions, allowing for more chances to enter a long position.
Consider these levels for potential Long/Short entry points:
Best Long Entry: Wait for the NEXOUSDT price to cross above the current EMA25 (1.1585) indicating bullish momentum, then enter a long position around the support level at 1.097.
Best Short Entry: Given the bearish MACD signal, monitor the price falling below the Support area near 1.097, aiming for the EMA25 (1.1585) as a strong resistance to initiate a short position.
Always do your own research and analyze further before making a decision. Take into account additional factors like Fibonacci retracement levels, trend lines, and news impact on the market before making your trading decisions.