ETH/USD Price Movements: A Volatile Ride
The 12-hour ETH/USD chart on Binance reveals a turbulent price journey for Ethereum. Recently, ETH surged to a high of $1,957.00, reflecting strong bullish momentum, possibly driven by whale accumulation as noted in the chart’s alert. However, this peak was followed by a sharp decline, with prices dropping to $1,385.05, signaling a potential bearish reversal or profit-taking. The current price sits at $1,617.34, up 1.53%, showing a modest recovery but still far from its 24-hour high of $1,631.81. Trading volume spiked to 224,278.37 ETH, with a USD value of $359.99M, indicating heightened market activity. The MACD indicator at 10.68 suggests lingering bullish sentiment, but the DEA (-38.10) and DIF (-27.42) point to underlying bearish pressures. Moving averages (MA5: $139.61, MA10: $195.52) also hint at volatility. Traders should watch for support near $1,482.28 and resistance at $1,733.94 as ETH navigates this choppy market.
