#ENS This is a short-term trend analysis (in the next 8-12 hours) of the ENS/USDT currency pair:
1. EMA Lines (7, 25, 99):
EMA(7) (34.79) is crossing down EMA(25) (36.85), indicating that the previous trend is downward.
However, the current price (34.49) is showing signs of recovery from the support area near EMA(99) (32.68), suggesting the possibility that the price could form a short-term bottom.
2. RSI Indicator (6, 12, 24):
RSI(6) = 43.45: Still below the 50 level, indicating that selling pressure is still dominant.
RSI(12) and RSI(24) are both around the 43-47 level: Near the neutral zone, indicating weak price momentum but potential for recovery.
3. MACD:
MACD is at a negative value (-0.28) and the DIF line (-1.39) is below the DEA line (-1.11): This indicates that the previous downward trend is still present but selling pressure is weakening.
The histogram is shortening, showing signs of convergence, indicating a potential bullish crossover in the next few hours.
4. Short-term Resistance and Support:
Nearest support: 32.59 (the lowest point in the last 24 hours), closely coinciding with EMA(99).
Nearest resistance: 35.70 (the highest point in the last 24 hours).
Trend Prediction:
In the short term (next 8-12 hours), if the price holds above EMA(99) and the MACD indicator continues to converge, there is a high possibility that the price will experience a slight recovery to the 35.00 - 35.50 range.
If it cannot break through this resistance area, the price may revisit the support at 32.50 - 33.00.
Strategy:
If you are holding: You may monitor the 35.00 - 35.50 range to take profit.
If you are considering buying: Wait for the price to test the support area at 32.50 - 33.00 before entering the order.
Be cautious as the cryptocurrency market is very volatile.