Indicator Signals
MACD: The MACD line is above the signal line, with a positive histogram value (MACDh: 24.76), indicating bullish momentum. However, the MACD signal line is negative (-1.81), suggesting caution as the bullish momentum may not be fully stable.
RSI: The RSI is at 73.89, which is in the overbought territory. This suggests that the asset may be overextended and could face a potential pullback in the near term.
Moving Average: The last price (1840.76) is above the SMA_5 (1822.50) and SMA_20 (1718.61), confirming short- and medium-term bullish momentum. However, it is significantly below the SMA_200 (2721.96), indicating that the long-term trend remains bearish.
2. Overall Trend Patterns and Future Projections
Overall Trend Patterns: ETHUSDT is currently in an uptrend that began on April 2, 2025, with a modest price increase of +1.29%. However, the recent price decline, coupled with reduced volume, suggests a potential rebound signal. The trend lacks strong reliability due to the low magnitude of the price change.
Pivot Levels: The current price (1840.76) is above the Fibonacci pivot point (1801.32) and approaching the first resistance level (R1: 1858.72). If the price breaks above this level, the next resistance levels to watch are R2: 1894.18 and R3: 1951.59. Conversely, support levels are at S1: 1743.91 and S2: 1708.45.
Volume Analysis: The "price down with volume down" pattern indicates weak selling pressure, which aligns with the potential for a rebound. However, the lack of strong volume signals limits confidence in the current uptrend's sustainability.
Future Projections: Given the overbought RSI and the proximity to resistance levels, ETHUSDT may face short-term resistance near 1858.72. A pullback or consolidation is likely before any significant upward movement. If the price breaks above R1, it could test higher resistance levels, but caution is warranted due to the overbought conditions.
3. Recommended Action
If you currently hold positions: Consider taking partial profits near the resistance level (1858.72) to lock in gains, especially given the overbought RSI. Monitor for signs of a pullback or consolidation before deciding on further action.
If you do not own ETHUSDT: Avoid entering at the current level due to the overbought RSI and proximity to resistance. Wait for a pullback to the Fibonacci pivot point (1801.32) or support levels (S1: 1743.91) before considering a position. Ensure that the RSI returns to a neutral zone and confirm bullish momentum with volume before entering. Use a stop-loss to manage downside risk.