#Ethereum✅
ETH/USDT based on your 4-hour Binance chart:
Price Context
• Current Price: $1,765.40
• 24h High/Low: $1,833.55 / $1,757.34
• Price is currently below all major EMAs (7, 25, 99):
• EMA(7): 1,799.76
• EMA(25): 1,814.09
• EMA(99): 1,779.00
This shows short-term bearish pressure with downward momentum.
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Support Area Analysis
1. Immediate Support Zone: $1,753 – $1,757
• Reason: The 24h low ($1,757.34) and the long lower wick on the most recent candle suggest buyers stepped in here.
• This is a weak-to-moderate support zone but could cause a short-term bounce.
2. Key Structural Support: $1,730 – $1,735
• Reason: A previous candle showed a strong reversal around $1,731.70.
• It aligns closely with the Buy Avg. Price ($1,748.38) and historical price reaction levels.
• This is a moderate-to-strong support level — if price reaches it again, it may act as a stronger bounce zone.
3. Psychological Support: $1,700
• Reason: Psychological round-number support.
• If the price breaks below $1,730, this is likely the next major area where buyers may re-enter.
4. Oversold RSI Signals
• RSI(6): 23.41 → strongly oversold
• RSI(12): 33.45 → approaching oversold
• RSI(24): 42.72 → neutral
These indicate that ETH may be oversold in the short term, often a precursor to a bounce or consolidation near support.
Conclusion
• Immediate support: $1,753 – $1,757
• Stronger support: $1,730 – $1,735
• Deeper support: $1,700
• Current RSI and candle wicks suggest potential short-term bounce, but trend remains bearish unless price reclaims the EMAs above $1,800.