1. Current Price Trend:
Current Price: 96,552 USDT, down 0.71% on the day.
Last 24 Hours:
High: 97,839.50 USDT.
Low: 95,924.60 USDT.
Price is hovering near the EMA(200) support level at 95,483.30 USDT, indicating a significant support zone.
2. EMAs:
EMA(7) (yellow line): Is above the price, indicating short-term bearish pressure.
EMA(34) and EMA(90) (pink and blue): Price is hovering near this EMA, indicating the market may be in a sideways state or preparing for a new trend.
EMA(200) (green): This is a strong support line, the price is currently holding above this level, if it breaks it could lead to a deep decline.
3. Trading volume (Volume):
Volume increased sharply at some points during the day, possibly due to the participation of large traders. However, the volume has recently decreased, indicating weaker momentum.
4. Other indicators:
MACD and RSI (not clearly shown on the image but can be observed on the floor): Consider if RSI is near the oversold zone (below 30), this could be a buy signal. If it is near the overbought zone (above 70), be careful because the price may correct.
5. Support and resistance zones:
Short-term support: 95.483 USDT (EMA200).
Short-term resistance: 97.839 USDT (recent peak).
Trading Strategy:
If the price stays above the EMA(200) and the volume increases again, consider buying when the price breaks the resistance of 97.839 USDT.
If the price breaks the EMA(200) support, be careful because the price may fall further, to the 93.500 USDT area.