Price: 0.2386 | EMA7: 0.23 | EMA25: 0.22 | RSI14: 0 | Resistance: 1 | Support: 0.1432 | Average Volume: 102027330.18 | Volume Trend: Decreasing
Based on the provided technical analysis, here is my response:
1. Best Short Entry Price: When the price breaks and stays below the EMA25 (current at 0.22349204159518), which indicates resistance, you can consider entering into a short position. A stop-loss order can be set above the EMA25 to minimize potential losses.
2. Best Long Entry Price: Once the price surpasses the resistance level and strengthens above both EMA25 and EMA7, indicating a change in sentiment and potential for an upward trend, you can consider entering a long position. A stop-loss can be set below the EMA7 to protect potential losses.
The spot buy price at the moment depends on your risk tolerance and funding preferences. Please ensure you conduct a thorough risk assessment and review recent historical trading trends before deciding on a specific buy price.
Keep an eye on market conditions, volume trends, and support and resistance levels to determine the suitable entry points for both long and short positions. Additionally, monitoring trend lines, moving averages, and indicators like RSI and MACD can assist in making informed decisions in the cryptocurrency market.