Technical Analysis (ETHUSDT - Monthly Chart Overview)
Current Price: $1,779.38
24h Range: $1,730.60 - $1,828.00
Key Observations:
1. Trend: Strong bearish momentum — consecutive red candles, recent candle pushing toward multi-month support levels.
2. Support Zones:
$1,730 - $1,750: Recent wick lows and buyer interest zone.
$1,384: Monthly support.
3. Resistance Zones:
$1,845 - $1,860: Closest resistance.
$2,000: Psychological resistance.
4. RSI(20): 46.27 – mid-level, but pointing downward = moderate bearishness.
5. MA(5) vs MA(10): MA(5) ($135.8M) above MA(10) ($112.3M) – signaling short-term strength in volume, but overall trend remains bearish.
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Intraday Trading Signal (Short-Term Strategy)
Scenario: Scalping or Day Trade in Bearish Market
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1. Entry Point(s):
Aggressive Buy Entry (Scalp):
$1,755 - $1,765 (support zone retest)
Conservative Buy Entry:
$1,730 (if price dips and forms bullish rejection wick)
Short Entry (Bearish):
$1,820 - $1,835 (retest of resistance zone with rejection)
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2. Stop-Loss Placement:
Long Trade SL:
Below $1,725 (strong support break = invalidation)
Short Trade SL:
Above $1,850 (resistance break confirms reversal)
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3. Take-Profit Target(s):
Long Trade TP1: $1,790
Long Trade TP2: $1,820
Long Trade TP3: $1,845 (near resistance)
Short Trade TP1: $1,785
Short Trade TP2: $1,765
Short Trade TP3: $1,730
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Risk-Reward Consideration:
Target minimum 1.5:1 R/R ratio
Trade only if price action confirms with volume spike or reversal candlestick pattern near entry zone.