Price: 8.55 | EMA7: 8.65 | EMA25: 8.84 | RSI14: 28.81 | Resistance: 9.46 | Support: 8.42 | Average Volume: 165640.65 | Volume Trend: Decreasing
Based on the 1hr chart, here's my technical analysis:
The RSI14 is oversold (28.81), indicating a potential reversal. The MACD is bearish, but the distance from the zero line suggests a possible convergence. The price is below both EMAs, which are also in a bearish alignment (EMA7 < EMA25).
Considering the oversold RSI and the decreasing volume trend, I'd recommend a long entry. The best long entry price would be around 8.45, just above the support level of 8.42.
For short sellers, a potential entry would be around 9.40, just below the resistance level of 9.46. However, I'd prioritize long positions given the oversold RSI.
The best spot buy price would be around 8.45, with a stop-loss at 8.38 and a target at 9.10.