🤖 AI Insight

Based on the provided technical analysis, here's a recommendation on entry points for a long and short position in STORJ/USDT:

Long Position Entry Price: As the current price (0.2324) is within the support level (0.2107), to minimize risks, consider entering a long position when the price reaches the 50% retracement level of the recent downtrend or forms a bullish candlestick pattern like a hammer or inverted hammer near the support level. This would imply buying around 0.2356 (0.2 x 0.2324).

Short Position Entry Price: Considering the decreasing volume trend, a bullish breakout is less likely at the current stage. If you prefer shorting, you may want to wait for a confirmation of the decreasing trendline break or a bearish candlestick pattern like a shooting star or doji near the resistance level (0.2575). This would imply selling around 0.2447 (0.2575 - EMA25).

Spot Buy Price recommendation: To enter a bearish position considering the short-term uptrend might end at the EMAs intersection level, wait for a bearish candlestick pattern like a black candlestick or engulfing pattern near the EMAs crossing area (around the EMA25 level). This would imply buying around 0.2447 (EMA25 level).

Stay alert for signals near or near-term moving averages (EMA7, EMA25), as these can act as viable entry points for breakout trades. However, it's essential to combine this analysis with fundamental analysis and risk management to make an informed decision before entering any trades.