Observations:
Current Price: $0.9832, with a daily decrease of -5.47%.
Moving Averages:
MA(60) = $0.9796 (price slightly above this level, indicating potential support).
MA(5) and MA(10) suggest short-term bearishness as they trend down.
Volume: A recent volume spike indicates possible interest or liquidation near a high, implying potential resistance around $1.0730 (24-hour high).
Indicators:
RSI or MACD (not visible here) would help confirm momentum.
Technical Analysis Recommendations:
Short Position:
Entry Point: Enter a short trade around $1.00 - $1.02 (likely resistance near $1.00 psychological level and just below the 24-hour high).
Take Profit (TP): Target $0.95, near recent support levels.
Stop Loss (SL): Place above $1.07 (recent high).
Trade Duration: Short-term (hours to 1 day) depending on volatility.
Long Position:
Entry Point: Enter long between $0.92 - $0.94 (recent 24-hour low region with possible rebound).
Take Profit (TP): Target $1.02 or higher.
Stop Loss (SL): Place below $0.90, guarding against further breakdown.
Trade Duration: Short to medium-term (1-3 days), depending on price action confirmation.
Contingency Plan if Signals Turn:
Short Trade Goes Wrong:
Exit if price consistently holds above $1.07 with increasing volume (indicates bullish reversal).
Reverse to a long position aiming for $1.15 as the next resistance.
Long Trade Goes Wrong:
Exit if price breaks below $0.90 with strong bearish candles.
Wait for the next support at $0.85 before re-evaluating a long.
