### 1. Trend Analysis
- The price is currently below the 60-day moving average (MA60), which suggests a bearish trend in the short term.
- Recent sharp decline in price and volume spike may indicate a trend reversal or potential recovery phase.
### 2. Key Levels and Indicators
- Support Level: The 24h low at around 1.5300 could act as a strong support if the price continues to decline.
- Resistance Level: The recent peak around 2.2263 may serve as resistance if there’s an upward movement.
- Moving Averages (MA5 and MA10): Cross-checking the MA5 and MA10 lines suggests possible short-term reversal signals if the MA5 crosses above MA10.
### 3. Long Entry/Exit Points
- Entry: A potential long entry can be considered if the price rises above the MA60 (1.8197), confirming bullish momentum.
- Take Profit (TP): Target TP near the recent resistance level of 2.2263.
- Stop Loss (SL): Set SL slightly below the support level at around 1.5300 to minimize losses if the trend reverses.
### 4. Short Entry/Exit Points
- Entry: A short entry can be considered if the price consistently stays below 1.8197 (MA60), confirming continued bearish momentum.
- Take Profit (TP): Target TP near the support at 1.5300.
- Stop Loss (SL): Place SL slightly above the 1.8197 level to control risk if the price breaks out upward.
### 5. Trade Duration
- Short-term trade (1-3 days) is suggested due to recent volatility and fast-moving price action. Adjust duration based on daily market updates.
### 6. Contingency Plan if Signals Turn Against You
- For Long Position: If the price breaks below the support level at 1.5300, consider exiting to avoid extended losses.
- For Short Position: If the price closes above 1.8197 or shows a clear upward trend, close the position to prevent a short squeeze.
