Based on the current chart for ETHUSDT Perpetual on Binance Futures, the price is trading at $1,796.87, showing a minor decline of 0.09%. Over the past 24 hours, ETH has fluctuated between a high of $1,842.82 and a low of $1,779.36. After reaching resistance at $1,842.82, the price has dropped and is now consolidating just below the 1-hour moving averages (MA7, MA25, and MA99), which are currently acting as resistance. The RSI(6) is at 33.35, indicating that the market is nearing oversold territory and could potentially see a technical rebound if buying volume picks up.
The overall 1-hour trend appears weak with short-term bearish pressure. A potential buy (long) setup may be considered if the price holds above $1,780 with a target around $1,810–$1,820 and a stop-loss below $1,770. On the other hand, if bearish momentum continues and price fails to reclaim above the MA lines, a sell (short) setup could be considered around $1,805–$1,810 with a target near $1,775 and a stop-loss above $1,820. As always, traders should apply strict risk management, considering ETH’s high volatility and recent downtrend momentum.