Price: 0.01898 | EMA7: 0.02 | EMA25: 0.02 | RSI14: 47.54 | Resistance: 0.02219 | Support: 0.01782 | Average Volume: 50698807.02 | Volume Trend: Decreasing
Based on the 4h chart of PEOPLEUSDT, here's a technical analysis:
- The EMA25 is above EMA7, indicating a short-term bearish trend within a larger bullish trend.
- RSI14 is below 50, but not extremely low (47.5), suggesting some buying pressure.
- MACD is near zero, indicating a neutral condition between bearish and bullish signals.
- However, considering the decreasing volume trend and the overall bearish trend indicators, it seems People may continue to move lower in the short term.
**Recommendations:**
1. **Shorting**: Enter short at 0.0190 (just above EMA7) for a target at the support level 0.01782, with a stop-loss above the resistance 0.02219. (Potential gain: around 8%)
2. **Long/Short position**: Alternatively, wait for a strong buy signal at the upper trend line or when the RSI14 hits 30, then enter at 0.01825 to position for a long at support or around 0.01782 and exit long when it hits resistance 0.0.02219.
3. **Spot Buying**: Buy spot at 0.01782 (support) if you're confident in the long-term bullish trend, with a target at the resistance 0.02219, and a stop-loss below 0.01782. However, this comes with significant risk due to the current bearish indicators.
Please note that these are based on my analysis at the given moment and do not constitute financial advice. Always analyze charts carefully and consider multiple indicators before making any trades.