Price: 1.227 | EMA7: 1.24 | EMA25: 1.25 | RSI14: 40.94 | Resistance: 1.398 | Support: 1.171 | Average Volume: 158510.69 | Volume Trend: Decreasing
Based on the 4-hour chart analysis of NEXOUSDT, here's a brief summary and trading advice:
**Analysis:**
- The price is currently at 1.227, below both EMA7 (1.235) and EMA25 (1.250), indicating a downtrend.
- RSI14 is at 40.94, suggesting the asset is nearing oversold territory but not yet there.
- MACD is negative, reinforcing the bearish trend.
- The nearest resistance is at 1.398, and support is at 1.171.
**Trading Advice:**
- **Long Entry:** Consider entering long around the support level of 1.171, with a stop loss below this level.
- **Short Entry:** A short entry could be considered near the current resistance or EMA7/EMA25 if the price bounces back to these levels. A potential short entry price could be around 1.235 (EMA7).
- **Spot Buy:** The best spot buy price would be around 1.171, as it is the support level. However, waiting for a confirmation of bounce or a bullish reversal signal from this level is advisable.
**Disclaimer:** Trading involves risk. Always use proper risk management and consider multiple analysis methods before making trading decisions.