Technical Analysis (3H Chart)
📊 Current Price: $2,564.42
24-Hour Change: +2.02%
📈 Moving Averages (MA)
MA(7): 2,483.63 (short-term) — Price is above it → bullish
MA(25): 2,405.00 (medium-term) — Acting as support
MA(99): 2,647.12 (long-term) — Acting as resistance
Interpretation:
Price is currently above both MA(7) and MA(25), suggesting bullish momentum in the short and medium term.
However, it's still below MA(99), which means ETH must break this level for a stronger bullish confirmation.
Recent Trend
ETH had a strong rally up to $4,107.80, followed by a deep correction to $1,385.05.
It's now in a gradual recovery phase, showing signs of strength.
Pattern Formation
ETH appears to be forming a symmetrical triangle or ascending triangle, consolidating with:
Support around $2,400
Resistance near $2,647 (MA99)
Potential Breakout Targets:
If price breaks above MA(99):
Target 1: $3,045 (intermediate resistance)
Target 2: $3,644 (major resistance)
Potential Breakdown:
If ETH fails to hold above $2,400, it may decline toward:
Support zone: $1,850 – $2,000
Fundamental Analysis
Positive Factors
1. Strong 24h trading volume (~$500M) indicates growing buying interest.
2. Ethereum ETF approval prospects in the U.S. could spark major upside.
3. Crypto market recovery from recent downtrends adds positive momentum.
Risk Factors
1. Regulatory uncertainty in the U.S. and EU could impact sentiment.
2. Ethereum network upgrades may bring technical or adoption risks.
3. Global macroeconomic pressure, like interest rate hikes or economic slowdown, could suppress crypto prices.
Market Outlook
Short-Term (Next Few Days – 1 Week):
Bullish Bias: As long as ETH stays above $2,400, it's likely to test and potentially break the $2,647 resistance (MA99).
Breakout from the current consolidation range could trigger strong upward momentum.
Medium-Term (Weeks to Months):
If ETH can break and hold above $2,647, a bullish trend reversal is likely, with price possibly heading back toward $3,000+.
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