$ETH

Timeframe: 1 Hour (1H)

Current Price: $1755.52

Change: -0.01%

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🔍 What's Happening Now:

🕯️ Price Action:

- ETH is consolidating near $1755, with very low amplitude movement and staying below both the 7 EMA ($1766) and 25 MA ($1786).

- Price recently rejected from both EMAs and is hovering close to short-term support around $1750.80.

- A clean break below this could lead to a steeper pullback toward $1720 → $1700, and potentially even $1665 (marked support zone).

📉 Indicators Update:

- MACD: Deep in bearish territory. Histogram showing sustained selling pressure. MACD Line: -1.28, Signal Line: -7.77.

- RSI Levels:

- RSI(6): 22.88 → Oversold

- RSI(12): 39.12 → Bearish

- RSI(24): 51.62 → Neutral

- All RSI indicators are trending down. RSI(6) suggests the market is currently oversold in the short term.

📊 Volume:

- Weak bullish volume — no significant accumulation yet.

- Declining volume during the downtrend signals lack of bullish conviction.

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⚠️ Conclusion:

❌ Not a good time to buy yet.

- Short-term trend is bearish.

- RSI(6) is oversold — may trigger a bounce, but no confirmation yet.

- MACD is bearish, and there's no bullish divergence on RSI.

- You could get caught in a dead cat bounce if you enter early.

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✅ Wait for Confirmation Before Entering Long:

1. RSI(6) starts curling back above 30

2. MACD histogram shows bullish momentum shift

3. Price breaks back above $1766–$1770 with good volume

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📉 Aggressive Traders (Short-term Play):

- You could scalp a small bounce around $1750, targeting $1770

- Entry: $1750–1752

- Target: $1766–1770

- Stop Loss: $1742 or below today's low

But it’s risky without confirmation. Safer to wait for clearer signals.