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Current Price Trend:
Current price is 95,383.50, which is right above the MA200, indicating that the price is trying to maintain an important support zone. If the price breaks below the MA200, it could continue to decline, confirming the long-term downtrend.
Trading Recommendation:
If the price holds above the MA200: This could be a buying opportunity with bullish expectations, the nearest target could be the resistance zone of 98,838.40 or further to 109,245.65. However, it is necessary to place a stop loss just below the MA200 to reduce risk.
If the price breaks below the MA200: This is a sell signal, especially if the candle closes below the MA200. The downside target could be the support zone of 88,431.15 or deeper at 78,023.90.
Additional factors:
Short-term MAs such as EMA7 (yellow) and EMA34 (red) are currently pointing down, signaling increasing selling pressure.
Look at the trading volume (24h volume) to confirm the strength of the trend. If the breakout is accompanied by high volume, the downtrend will be reinforced.
Summary:
Buying strategy: If the price holds above the MA200, buy with a stop loss around 94,000.
Sell strategy: If the price breaks below the MA200, sell and target a deeper decline.
Current Price Trend:
Current price is 95,383.50, which is right above the MA200, indicating that the price is trying to maintain an important support zone. If the price breaks below the MA200, it could continue to decline, confirming the long-term downtrend.
Trading Recommendation:
If the price holds above the MA200: This could be a buying opportunity with bullish expectations, the nearest target could be the resistance zone of 98,838.40 or further to 109,245.65. However, it is necessary to place a stop loss just below the MA200 to reduce risk.
If the price breaks below the MA200: This is a sell signal, especially if the candle closes below the MA200. The downside target could be the support zone of 88,431.15 or deeper at 78,023.90.
Additional factors:
Short-term MAs such as EMA7 (yellow) and EMA34 (red) are currently pointing down, signaling increasing selling pressure.
Look at the trading volume (24h volume) to confirm the strength of the trend. If the breakout is accompanied by high volume, the downtrend will be reinforced.
Summary:
Buying strategy: If the price holds above the MA200, buy with a stop loss around 94,000.
Sell strategy: If the price breaks below the MA200, sell and target a deeper decline.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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