๐จ IS ETHEREUM READY TO REBOUND? Check Out This Important Analysis!
๐ Pair: ETH/USDT
๐ฐ๏ธ Timeframe: 1D
๐ Current Price: $2,604
๐ Strong Support: $1,900
๐ Resistance: $3,050 - $3,750
๐ Potential Target: $4,050 - $4,900
๐ RSI(14): 50.87 โ Neutral
๐ MACD: Tends to be Bearish but starting to flatten
๐จInteresting Facts from the Chart:
1. The Golden Ratio 0.618 ($1,901) has proven to be a stronghold for ETH during several corrections.
2. ETH is currently between the retracement zones of 0.382 and 0.5, indicating an accumulation phase!
3. Volume is quite stable and RSI is approaching the neutral point โ signal of potential reversal!
๐ง Brief Analysis:
ETH is still holding above the Fibonacci support of 0.5.
If it successfully breaks through $3,050 and $3,750, the potential for a new ATH is very open.
The MACD is still red, but the histogram is starting to shrink โ a sign that selling pressure is beginning to weaken.
๐งตConclusion:
Are we witnessing the beginning of Ethereum's bullish rally? Or just a temporary bounce before continuing the correction? ๐ค
Share your opinions in the comments section!
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