🤖 AI Insight

Based on the provided technical analysis of SANTOSUSDT, here is my recommendation on entry points:

1. Long entry (buy): A buy signal can be triggered when the price breaks above the resistance level of 3.635 dollars, ensuring a proper retracement to at least the EMA25 (around 2.233) before entering the trade. Keep an eye on the RSI reaching oversold conditions (around 30) and a bullish crossover of MACD (moving average convergence divergence) histogram. Confirm this with a decrease in volume, indicating consolidation rather than a potential distribution by traders.

Advice: A reasonable entry price in this scenario would be when the price approaches the EMA25 at around 2.233 once a proper retracement has occurred. You can buy around the support level of 2.233 while considering the confluence of other indicators.

2. Short entry (sell): To enter a short position (sell, going against the trend), observe if the price breaks below the support level of 1.638 and continues its decline. Ensure the presence of bearish crossover in both RSI (around 70) and MACD histograms, indicating overbought conditions. Check for an increase in volume, discouraging potential buyers.

Advice: Enter either near the support level at 1.638 while taking into account the bearish indicators and a potential increase in volume or upon a further downward break below the support level.

However, please remember that technical analysis isn't perfect, and it's crucial to keep a close eye on fundamental news and developments involving the company, as they can significantly impact the price action in the short term. It's advisable to incorporate your risk tolerance and trading plan when deciding to enter the trade(s). Lastly, consider using stop-loss orders to minimize potential losses and manage risk effectively.