💡 Quick technical analysis – ETH/USDT:
✅ Strong rise! ETH has risen from $1,385 to $1,873 recently, and has currently retraced from the last peak to settle at $1,852 – an impressive growth of +3.71% in just 24 hours!
✅ RSI is high at 71.58 – entered the overbought zone, indicating very strong momentum but calls for caution for a potential correction.
✅ MACD is clearly positive! With a significant difference between the DIF line (12.78) and DEA (8.55), reflecting strong upward momentum.
✅ MA(5) and MA(10) moving averages in a bullish crossover – a signal for the continuity of the positive trend.
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📊 Potential technical pattern – are we facing a critical resistance?
🔍 Double top at $1,873? If this peak is broken, ETH will open the door for a potential rise towards $1,920 and then $2,000 – but if it fails to break through, we might witness a swift correction.
🔺 Clear upward channel pattern: the price is gradually moving inside a bullish channel, and if the momentum continues, the upper ceiling of the channel may break and push the price up strongly.
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🚨 Supporting signals from indicators:
RSI is very high → strong momentum but caution is needed for short corrections.
MACD is positive and stable → indicates the continuation of the upward trend.
Bullish MA crossovers → additional confirmation of the current trend's strength.
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🎯 Upcoming movement predictions:
Positive scenario: Breaking $1,873 will push ETH towards $1,920 and quickly to $2,000.
Negative scenario: Failure to break through may push the price back to the support area between $1,775 - $1,800.
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💬 My personal opinion:
ETH is experiencing one of its strongest upward waves recently. Despite being close to a strong resistance area, technical indicators support the continuation of the trend. However, due to the high RSI, we may see temporary profit-taking before a larger surge.
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✅ Final advice:
Use a stop loss below $1,800 to protect your capital.
Monitor momentum indicators on smaller time frames to accurately determine the timing of entry.
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📢 Do you expect ETH to reach $2,000 soon? Or is the market planning a surprise? Share your opinion with me!