#ETH Technical analysis on 1D chart.
1. Overall trend
After a strong drop to the bottom of 1,384 USDT, ETH has had a quite good rebound and is currently trading around the 1,799 USDT range.
The price has now surpassed both EMA(7) and EMA(25), indicating a short-term reversal sign from declining to accumulating increase.
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2. Technical indicators
EMA
EMA(7): 1,780
EMA(25): 1,741
EMA(99): 2,150
=> Price is above EMA(7) and EMA(25) but still below EMA(99) => Short-term recovery trend in the larger trend is still declining.
RSI(6): 67
RSI is in a quite high range, approaching overbought, but there are no signs of divergence yet.
Buying pressure is still maintained; however, caution is needed with the resistance area around 1,855 – 1,880 (previous short-term peak).
MACD
MACD has crossed above the signal line, positive histogram and expanding => Confirms the ongoing recovery trend.
However, the histogram shows signs of flattening, indicating that the upward momentum is cooling down.
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3. Volume
Volume is gradually decreasing while the price is moving sideways => A sign of hesitation or preparation for a new volatility phase (breakout/breakdown).
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Summary of ETH daily chart
Short-term trend: Increasing/Rebounding, but showing signs of stagnation and approaching the resistance area.
If ETH breaks the 1,855 – 1,880 area with high volume, the possibility of extending to 1,950 – 2,000 is high.
Conversely, if it fails and loses EMA(7), it may retest the support area of EMA(25) around 1,740 – 1,720.
