Current Situation:
- Price: $1,844.89 (-0.92% in the last 24 hours).
- Price range for 24h: $1,813.00 (minimum) – $1,871.00 (maximum).
- Trading Volume: 423,578.19 ETH / 779.49 million USDT.
Key Indicators:
1. RSI(6): 75.23 – indicates overbought (value above 70), which may signal a possible correction or trend reversal.
2. Historical Volatility:
- Short-term changes: -0.60% (today), +4.61% (7 days).
- Long-term: -44.33% (90 days), -38.30% (1 year).
Support and Resistance Levels:
- Buying (support):
- Strong Levels: $1,365.48 – $1,387.29.
- Current Zone: ~$1,844.89 (close to selling price).
- Selling (resistance):
- Nearest Level: $1,846.89.
- Strong Levels: $1,981.87 and above.
Trading Instruments (MASS):
- Trend Indicators (MA, EMA, BOLL): It is important to watch for moving average crossovers.
- Oscillators (MACD, RSI): RSI in the overbought zone requires caution.
Recommendations:
1. Short-term Trading:
- With RSI > 70 a pullback is possible. Consider taking profits or entering short positions upon confirmation of reversal.
- Stop-loss: below $1,813.00 (day's low).
2. Long-term Perspective:
- The market remains in a downtrend (down 44.33% over 90 days).
- For buying, it is better to wait for testing strong support levels ($1,365.48) or a drop in RSI to 30-50.
Risks:
- High volatility due to overbought conditions (RSI).
- Overall bearish trend (down 38.30% over the year).
Conclusion:
Today ETH/USDT shows signs of overbought with a risk of correction. Short-term traders may look for selling opportunities, while long-term investors should wait for better entry points. Monitor support/resistance levels and RSI indicators.
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