PEOPLE Today Market Analysis:
1. K-line Pattern:
Current PEOPLE price is 0.07156 USDT, showing a trend of fluctuating upward. The support level below is at 0.0680 USDT, while the resistance level above is at 0.0750 USDT. The price has tested the resistance area of 0.0750 USDT multiple times, indicating that bulls are attempting to break through here. If the resistance is successfully broken, it may further rise to 0.0800 USDT or even 0.0850 USDT; if it fails to break through, the price may retrace to 0.0680 USDT or even test the support area of 0.0650 USDT.
2. Technical Indicators:
MACD: The MACD fast line is diverging above the zero axis, indicating strong bullish momentum in the market. If the fast line and slow line continue to diverge, the price may continue to rise; if the fast line and slow line begin to converge, there may be a risk of retracement.
RSI: The current RSI is 65, showing a bullish market sentiment, but close to the overbought range (above 70), there is still some room for upward movement, but if RSI exceeds 70, retracement pressure may occur.
EMA: EMA7 (0.0715 USDT) is above EMA30 (0.0700 USDT), indicating a positive short-term trend, but EMA120 is forming important resistance near 0.0750 USDT. If the price breaks through this position, it will further confirm bullish momentum.
3. Trading Volume:
The trading volume has increased during the upward movement, showing that market buying power is strengthening. If the price breaks through 0.0750 USDT with increased trading volume, it may further push the price up to 0.0800 USDT or higher.
Trading Suggestions:
Long:
Entry Point: You can enter long when the price retraces to around 0.0700 USDT.
Target Take Profit: The first take profit level is set at 0.0750 USDT, the second take profit level is set at 0.0800 USDT, and a long-term target can be set at 0.0850 USDT.
Stop Loss: Set the stop loss at 0.0650 USDT to prevent the price from breaking below key support.
Short:
Entry Point: If the price encounters resistance near 0.0750 USDT and fails to break through, you can short in that area.
Target Take Profit: The first take profit level is set at 0.0700 USDT, the second take profit level is set at 0.0680 USDT.
Stop Loss: The stop loss can be set above 0.0770 USDT to prevent the price from breaking through the resistance level.
The above views are for reference only and do not constitute investment advice.
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