Binance Latest News $ETH Halal Analysis (1-Day Chart)
Overview
Pair: $ETH ETH/USDT
Current Price: $ETH 3,859
Trend: Short-term bearish correction within a medium-term range.
Halal Focus: Ethereum remains a utility-based digital asset, generally considered Shariah-compliant for trading (not interest-based, used in smart contracts).
📊 Technical Analysis
Indicators (1D):
MA(7): $3,871 — current dynamic resistance
MA(25): $3,933 — higher resistance aligning with structure zone
MA(99): $3,994 — long-term trend resistance
Structure:
Price rejected from $4,083 and formed a lower high near $3,950. Recent candles show a bounce from $3,840, forming potential temporary support.
Trend line:
Descending trend line from $4,083 → $3,950 → current price ($3,859).
⚒️ Support and Resistance Zones
Type Level Reason Resistance 1$3,930 – $3,950 MA(25) confluence and previous highs Resistance 2$4,083 Major top / prior rejection zone Support 1$3,840 Local bottom and short-term demand Support 2$3,780 – $3,760 Next structure support Major Support $700 Historical daily level
⚙️ Trade Setup Suggestion
1️⃣ Short-Term Bearish Setup (Current Trend)
Entry: $3,860 – $3,880
Stop Loss: $3,950
Take Profit 1: $3,780
Take Profit 2: $3,700
R:R Ratio: ≈ 1 : 2.1
Reason: ETH is under all major MAs; trendline acts as resistance; volume decreasing.
2️⃣ Bullish Reversal Setup (Confirmation Needed)
Entry: $3,960 (after candle close above $3,950)
Stop Loss: $3,840
Take Profit 1: $4,050
Take Profit 2: $4,150
Reason: Breakout and retest confirmation with increasing volume would signal shift to bullish momentum.
🧭 Summary
SetupDirectionEntryTPSLConfidence#1Short$3,860$3,780 / $3,700$3,950✅ High#2Long$3,960$4,050 / $4,150$3,840⚠️ Medium