PEOPLE Today's Market Analysis:
1. K-Line Pattern:
The current price of PEOPLE is 0.06139 USDT, showing a trend of consolidation recently. The main support level below is at 0.0580 USDT, while the main resistance level above is at 0.0650 USDT. If the price can break through the resistance level of 0.0650 USDT, it may further rise to 0.0700 USDT or even 0.0750 USDT; if it fails to break through, the price may retrace to 0.0580 USDT, or even test lower at the 0.0550 USDT area.
2. Technical Indicators:
MACD: The MACD fast line is above the zero axis, indicating strong bullish momentum in the market. If the fast line and slow line continue to diverge, the price is expected to rise further; if the two lines gradually converge, a short-term retracement may occur.
RSI: The current RSI is 64, indicating a bullish market sentiment, but it has not yet reached the overbought area (above 70). There is some upward space for the price in the short term, but caution is needed for retracement risk as it approaches 70.
EMA: EMA7 (0.0610 USDT) is above EMA30 (0.0600 USDT), indicating an upward short-term trend. EMA120 is forming a significant resistance level near 0.0650 USDT; if this area is broken, it will further confirm the bullish momentum.
3. Trading Volume:
The trading volume has slightly increased during recent price rises, indicating an increase in market buying power. If the price breaks through 0.0650 USDT in the future with amplified trading volume, it may drive the price further up.
Trading Suggestions:
Long:
Entry Point: It is recommended to enter a long position when the price retraces to 0.0600 USDT.
Target Take Profit: The first take profit level is set at 0.0650 USDT, the second take profit level is set at 0.0700 USDT, and a further target can be seen at 0.0750 USDT.
Stop Loss: The stop loss is set below 0.0550 USDT to prevent the price from falling below the key support area.
Short:
Entry Point: If the price encounters resistance at 0.0650 USDT and fails to break through, a short position can be taken in that area.
Target Take Profit: The first take profit level is set at 0.0600 USDT, the second take profit level is set at 0.0580 USDT.
Stop Loss: It is recommended to set the stop loss above 0.0670 USDT to prevent the price from breaking through the resistance level.
The above views are for reference only and do not constitute investment advice.
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