๐ฃ $ETH /USDT โ 1H Technical Breakdown
Current Price: $2,522.29
24H Change: +2.46% ๐
๐ Trend Summary:
ETH/USDT is showing a short-term bounce off the $2,453.80 low. While the move looks promising, price is now testing resistance near the MA20 with stronger overhead resistance clustering above.
๐ Moving Averages:
โข MA 20: $2,522.60 โ price is currently stalling right below this level.
โข MA 50: $2,575.35 โ major resistance to reclaim for a trend reversal.
โข MA 99: $2,554.51 โ aligning closely with the 50MA, forming a resistance band.
๐ง Key Observations:
โข Bounce lacks follow-through volume โ indicating hesitation.
โข ETH needs to reclaim and hold above $2,555 to open the door for bullish continuation.
โข Below $2,490, weakness could resume and bring retests of recent lows.
๐ฉ TL;DR:
Trend: Relief bounce inside bearish pressure zone
Resistance Zones: $2,522 โ $2,555 โ $2,575
Support Zones: $2,492 โ $2,453
Breakout Watch: Must break and hold above $2,555 to challenge MA cluster.
๐ก Recommendations / Suggestions:
โข Monitor for breakout above $2,555โ$2,575 zone before considering bullish entries.
โข Short-term buyers may eye $2,492โ$2,500 zone if support holds on a dip.
โข A break below $2,453 may trigger renewed selling.
โ ๏ธ DYOR โ Do Your Own Research. This is not financial advice. Always trade responsibly and manage risk carefully.