Price: 0.581 | EMA7: 0.6 | EMA25: 0.62 | RSI14: 43.95 | Resistance: 0.893 | Support: 0.451 | Average Volume: 5768713.5 | Volume Trend: Decreasing
Based on the technical analysis provided for SUSHIUSDT cryptocurrency on a 1-day chart, here are the key points to consider for a potential investment:
1. Long Entry Price Suggestion: Given the decreasing volume trend and the support level at 0.451, a suitable long entry price would be around the support level, which is around 0.451. This level serves as a good place to enter a long position with the expectation of a possible upward movement.
1. Short Entry Price Suggestion: If you're looking to go short, consider waiting for the price to break below the support level at 0.451 before entering a short position. A break of the support could indicate a potential downward trend, giving you a signal to enter the short trade.
1. Best Spot Buy Price: Since volume is decreasing, it may be wise to wait for the volume to increase before considering a spot buy. Waiting for a consolidation period or a probable support level break could pose higher potential for a more significant move. This will give you better odds of capturing a higher potential return on your investment.
1. Best Long Entry with EMA7 Signal: The EMA7 shows the price has moved above it, suggesting potential bullish momentum. If the price stays above the EMA7, you can consider looking into a long entry position. However, be cautious due to the decreasing volume shown in the analysis. Take a closer look at the broader market condition and potential resistance levels before making the entry decision.
1. Best Short Entry with MACD Signal: The MACD shows a negative value, suggesting a bearish trend. If the price breaks below the support level around 0.451, you have a clear signal to enter a short position as the price tends to move lower. Make sure to monitor volume levels for potential confirmation of a stronger trend before taking action.
Remember to continuously monitor the technical indicators mentioned above, such as the Moving Averages (EMA7, EMA25) and oscillators (RSI14, MACD), as they can give further insights for making informed trading decisions. Always prioritize risk management and set stop-loss orders to protect your investment.