Price: 0.2768 | EMA7: 0.25 | EMA25: 0.24 | RSI14: 62.46 | Resistance: 0.295 | Support: 0.1636 | Average Volume: 57348232.82 | Volume Trend: Increasing
Based on the given technical analysis (1-day chart) for POLUSDT, I can provide you with some key data points and advice:
1. Short-term Moving Averages: EMA7 (0.254464) and EMA25 (0.243794) indicate a positive trend with increasing momentum support (EMA25 is greater than EMA7).
2. RSI14 (62.458) shows that the asset is overbought and might be facing some selling pressure.
3. MACD (0.006845) suggests a potential turning point or bullish crossover is about to occur, but the convergence is not extremely strong yet.
4. Resistance level: 0.295 is a key level where the price might meet some resistance if it goes up, providing a potential entry point for sellers.
5. Support level: 0.1636 could be a suitable level for potential long trades if the price falls below this level due to increased buying interest.
6. Volume Trend: The volume is increasing, indicating potential market interest and an upward trajectory.
My advice:
- Long trades (buying POL): Based on the increasing volume trend and expected bullish crossover, a long entry price at or near the support level (0.1636) is favored. It provides relatively good risk-reward, considering the potential for price increase and increased buying interest.
- Short trades (selling POL): As the asset is oversold and a bullish crossover is expected, an entry price close to the resistance level (0.295) could be a good point to enter short trades.
Please consider these entry points as guidelines and also pay attention to other technical indicators and overall market conditions before making any trading decisions. It is essential to follow proper risk management strategies when entering trades.