1. Trend Analysis
The chart is in a consolidation phase after a significant bullish move to $2,738.50, followed by a pullback.
The 7 EMA ($2,493.97) is below the 25 EMA ($2,519.90), indicating short-term bearish pressure.
The 99 EMA ($2,292.23) is well below the current price, suggesting long-term support is intact.
2. Support and Resistance Levels:
mmediate Resistance: $2,515.44 (24h High) and $2,519.90 (25 EMA).
Key Resistance: $2,577.11 (recent swing high).
Major Resistance: $2,738.50 (local peak).
Immediate Support: $2,494 (7 EMA) - potential bounce level.
Key Support: $2,446.42 (24h Low).
Major Support: $2,292.23 (99 EMA - long-term support).
3. Volume Analysis:
The volume is relatively low, indicating a lack of strong momentum in either direction.
A breakout above the 25 EMA ($2,520) with increased volume would indicate potential bullish momentum.
4. RSI Analysis (6-period):
The RSI is at 48.43, showing neutral momentum.
If the RSI dips to 30-35, it would indicate an oversold condition, suggesting a potential buy zone.
5. MACD Analysis:
The MACD is not clearly visible, but the overall momentum appears neutral/slightly bearish given the recent downtrend.
A bullish crossover could provide a stronger buy signal.
📌 Trade Plan for Day Trading (Medium Risk):
Entry Point:
If the price breaks and holds above the 25 EMA ($2,520) with strong volume, consider entering a long position.
Alternatively, if the price dips to the 7 EMA ($2,494) and shows a bullish bounce, enter a long position there.
Take Profit Levels:
TP1: $2,577.11 (recent swing high) — conservative target.
TP2: $2,738.50 (local peak) — aggressive target for continuation.
Stop Loss:
SL1: Below $2,490 (below the 7 EMA, minimizing risk).
SL2: Below $2,446 (recent swing low), providing more room for fluctuation.
Would you like me to add any specific indicator analysis or refine the entry and exit points further.
#BinanceAlpha$1.7MReward #BinanceAlphaAlert #ETH #ETHBlockchain
