Old A's interpretation of [4-hour $PEOPLE price trend analysis] on October 7, 2024
The K-line pattern is quite impressive! The recent K-lines are like a high jump competition, rushing all the way up. Especially since October 4, the continuous positive lines tell us that the market sentiment is very optimistic. The recent highs are constantly climbing, and the lows are also steadily moving up, which forms a short-term upward channel, which is as exciting as riding a roller coaster!
The technical indicators are also pointing the way for us. MACD, this guy, DIF and DEA are both positive and continue to rise, and the MACD histogram is still red and expanding. Isn't this an obvious strong rise stage? RSI14 is now hovering around 64. Although it is about to enter the overbought area, it has not reached the extreme area, so there is still room for growth. EMAs are also in a long position. The price is firmly above EMA7, EMA30 and EMA120, and EMA7>EMA30>EMA120. Doesn't this tell us to continue to be bullish?
Let's talk about the trading volume. On October 6, the trading volume was outstanding! With the rise in prices, the momentum of capital inflow is very strong. The overall trading volume has also increased recently, which complements the price increase. Doesn't this verify the current upward trend?
Then, regarding the 4-hour price trend of PEOPLE, of course it has risen!
As for the buying and selling points
Buying point 1 is at 0.073 USDT! Because it is close to the previous support level, and there may be good support near EMA7. Buying point 2 is at 0.072 USDT, which is closer to the low point of the previous band, increasing the safety margin. Friends who are long, please pay attention, the stop loss point is set at 0.0715 USDT! This position is slightly lower than buying point 2 to prevent us from falling below the important support area.
Sell point 1 is at 0.076 USDT! This is close to the recent high, so there may be potential selling pressure. Sell point 2? At 0.077 USDT! If the price breaks through the recent high and continues to move upward, this is a good selling opportunity. But remember, be careful when shorting! The stop loss point is set at 0.078 USDT, which is higher than the position of sell point 2, so that we can avoid the risks brought by those false breakouts!