Price: 177.48 | EMA7: 186.21 | EMA25: 193.64 | RSI14: 38.08 | Resistance: 253.51 | Support: 155.83 | Average Volume: 4090781.63 | Volume Trend: Decreasing
Based on the 1-day analysis of SOLUSDT, here's my assessment:
The current price is at 177.48. Since the RSI14 (38.08) is below 50, it indicates the asset is in a bearish trend. The MACD is negative, supporting the downtrend. The EMA7 (186.21) and EMA25 (193.64) are above the current price, suggesting resistance from the short-term exponential moving averages.
To consider a Long entry:
- Wait for RSI to cross above 50.
- Look for a bullish crossover between the EMA7 and EMA25.
- Set a target near the support level of 155.83.
For a Long entry price, consider buying near the EMA20 (approximately 182.95) to ride the potential bounce.
To consider a Short entry:
- The bearish trend is strong with decreasing volume.
- Sell near the current price, but consider selling near the resistance level of 253.51 for a significant short.
Avoid buying at the price of 177.48 as the downtrend might continue for now.