Technical analysis of the ETH/USDT price
1. General trend
Current price: $2,083.93 (+4.57% up).
The overall trend is downward after reaching a peak at $4,107.80.
The price has broken multiple support levels and is currently trading at a relatively low level.
There is a slight recovery in price with a gradual rise.
2. Moving Averages (EMA)
EMA 7 (Short-term): $2,006.20 (shows the beginning of a recovery).
EMA 25 (Short-term Average): $2,103.63 (the price is approaching a breakout).
EMA 99 (Long-term): $2,628.46 (still far away, indicating the continuation of the long-term downward trend).
🔹 Signal: The price has started to recover, and if it firmly breaks above the EMA 25, it may indicate a potential change in trend towards the upside.
3. Support and Resistance
Current support: $1,754.28 (the closest strong support level).
Nearby resistance: $2,154.38 (this level should be monitored to test the bullish strength).
Next resistance: $2,672.15 (EMA 99 - a strong level that the price needs to break to confirm the rise).
🔹 Signal:
If the price can stay above $2,154.38, we may see a rise towards $2,672.15.
In the case of a drop, strong support at $1,754.28 may provide a bounce opportunity.
The price has broken multiple support levels and is currently trading at a relatively low level.
4. Momentum Indicators (RSI & MACD & Stochastic RSI)
RSI (6): 65.62 → Indicates that the price is not in the overbought area yet, meaning the rise may continue.
MACD: Shows improvement as the faster line (DIF) crosses the slower line (DEA), which may be an early signal for an upcoming rise.
Stochastic RSI: 90.61 → Indicates that the market is in the overbought territory, which may lead to a temporary correction before the rise continues.
5. Trading Volumes (Volume & OBV)
Trading volume is relatively high, supporting the upward movement.
OBV (On-Balance Volume): Improving, indicating positive liquidity flow in the market.
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🔹 General outlook and important levels
Upward scenario:
Staying above $2,154.38 will confirm the continuation of the rise towards $2,672.15.
If $2,672.15 is broken, the upward trend may return strongly.
Downward scenario:
If the price is rejected at $2,154.38, we may see a drop towards $1,754.28.
Breaking below $1,754.28 may bring the price back to lower levels.
📌 Summary
Current trend: Recovery from a downward wave, but the rise has not been confirmed yet.
Critical level: $2,154.38 (determines the continuation of the rise or return of the drop).
Follow-up strategy: Waiting for breakout confirmation while monitoring momentum and trading volumes.
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