Signal $IDOL : NEUTRAL with a Bias to SELL (Bearish)
Technical Reasons:
1. Price and Trend:
- Last price: $0.01355 (-7.19% in 24h), slightly above the **Mark Price** ($0.01354).
- Although there is a minimal recovery since the last analysis, the overall trend remains bearish (24h range: $0.01272 - $0.01635).
2. Key Indicators:
- MACD: Slight improvement (DIF: -0.00017, DEA: -0.00024, MACD: +0.00007). The positive histogram suggests a possible temporary relief, but the DIF line is still below DEA (cautious signal).
- EMAs: The price is between EMA(7) ($0.01329) and EMA(25) ($0.01343), indicating nearby resistance. EMA(99) ($0.01393) acts as strong resistance.
- Volume: Volume in USDT decreased (109.26M), suggesting less conviction in the recovery.
3. Supports and Resistances:
- Immediate Support**: $0.01334 (recent level).
- Key Resistance: $0.01414 (EMA 99 and previous supply zone).
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Adjusted Recommendation:
- Action: Wait and observe before going short.
- If the price exceeds $0.01393 (EMA 99) with high volume, it could be considered a buying opportunity (scalping).
- If it rejects $0.01393 and breaks $0.01334, it would confirm the bearish continuation (target: $0.01272).
- Stop-Loss: $0.01420 (above EMA 99) for short positions.
- Take-Profit: $0.01272 (24h minimum) or $0.01200 (psychological support).
$BTC $IDOL