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$FIDA what's the possible next move? ?
let's check . ..
Price Movement: The price of FIDA/USDT recently spiked and seems to be consolidating after hitting a high of 0.4410. It's currently around 0.3823, which could suggest some resistance after a rapid rise.
RSI: The RSI(20) value is 66.1091, approaching overbought levels (above 70), indicating that the asset may soon face selling pressure.
EMAs: The shorter-term EMAs (9 and 25 periods) are moving upwards, but the price is starting to pull back slightly from the peak, showing that momentum might be slowing.
Short Entry Consideration:
A short entry could be considered if:
The RSI moves higher and confirms overbought conditions.
The price starts to show clear signs of rejection at resistance levels or forms lower highs.
You set a clear stop-loss above recent highs, as sharp upward movements can continue due to volatility.
However, you should also monitor market conditions closely as strong momentum could still push the price upward before any major pullback.
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