Current Situation:
The price is stabilizing around the critical support level of $1.0485 (EMA 99).
The RSI is nearing the oversold zone, signaling a potential rebound.
Trading volumes are low, suggesting a possible accumulation phase.
Risks:
A breakdown below $1.0485 could lead to a drop toward the next significant support at $0.8054.
The EMA 7 and 25 (short-term moving averages) are still above the price, indicating persistent bearish pressure.
Buy Now for Holding ?
If you are willing to take moderate risk, consider entering around $1.0485 with a small position to test the market. This level is a key support. However, set a stop-loss slightly below this support (around $1.0450) to minimize losses.
Wait:
If you prefer a cautious approach, wait for a confirmed breakout above $1.1570 (EMA 25) with increasing volumes. This would confirm a stronger bullish reversal.
In conclusion for risk-averse investors, it’s safer to wait for confirmation before buying. However, for those looking to take advantage of an attractive price at a key support level, buying now with a strict stop-loss is a viable option.