๐ Technical Overview
Bollinger Bands Insight:
Ethereum is currently hovering above the midline of the Bollinger Bands (around 2593), reflecting a mildly bullish bias. However, after testing the upper band near 2693, the price has shown a slight pullback, suggesting fading momentum and entry into a temporary sideways phase.
MACD Movement:
The MACD lines (DIF and DEA) have turned upward and formed a bullish crossover below the zero axis. The histogram shifted from green to red, and red bars are now narrowing, implying that buying pressure may be slowing, potentially leading to a short-lived correction.
Key Price Zones:
๐บ Resistance Zone: 2665 to 2690 (where the upper band and previous highs converge)
๐ป Support Zone: 2590 to 2555 (aligned with the Bollinger middle band and short-term support)
๐ก๏ธ Major Support: 2500 to 2480 (previous swing low + lower Bollinger band)
Capital Flow:
Net capital inflow stands at approximately 53.8 million USDT. While not huge, it shows a stable sentiment without strong buying or selling pressure.
๐งญ Trading Strategy Ideas
๐ด Short Setup (Sell on Rebound):
Entry Zone: Around 2665โ2690 (if price shows signs of rejection)
Take Profit: 2590โ2555
Stop Loss: Above 2695
๐ข Long Setup (Buy the Dip):
Entry Zone: Around 2590โ2555 (if support holds)
Take Profit: 2650โ2680
Stop Loss: Below 2540
๐ Market Sentiment Summary
Ethereum appears to be consolidating within a range as bullish strength gradually declines. The next 6โ8 hours are likely to confirm whether a short-term pullback is forming. Traders are advised to adopt a range-trading mindsetโselling on rallies and buying near supportsโwhile managing risk carefully and adapting to quick market shifts.
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