$ETH ETH/USDT Chart Analysis (12h timeframe)

Current Price: $1,585.18

24h Change: -2.06%

24h High / Low: $1,621.36 / $1,565.59

Trend: Consolidating below resistance

Technical Indicators (summary):

Parabolic SAR: SAR dots remain below the price but are gradually flattening, hinting at a weakening bullish phase.

MACD: Positive, but the histogram is contracting and lines are converging, suggesting fading upward momentum.

MA5 & MA10: Price is hovering between both short-term MAs, showing indecision and a neutral stance in the short term.

Volume: Low and declining volume suggests a lack of conviction from both buyers and sellers.

Price Action:

#ETH remains range-bound after a strong rebound from the $1,385.05 low. The price has faced resistance near $1,620 on multiple occasions but failed to secure a breakout. The structure is showing signs of exhaustion, with compressed candles and narrow bodies forming around the $1,580 to $1,600 zone. Price is currently holding above $1,565 but lacks follow-through momentum to push higher.

Outlook:

Bearish scenario: A close below $1,565 with increasing sell volume could expose ETH to a drop toward $1,500 or even back to $1,420. MACD and SAR reversals would confirm renewed bearish momentum.

Bullish scenario: If ETH can reclaim $1,620 and sustain above that level with strong volume, a potential move toward $1,685 and $1,750 becomes possible. However, confirmation is key due to current weakening momentum.

Conclusion:

ETH/USDT is showing signs of market indecision, stuck between resistance and support levels. Although indicators are still technically positive, momentum is fading. Traders should monitor the $1,565–$1,620 range closely for a confirmed breakout or breakdown before positioning for the next move.