$ETH
#GENIUSActPass Here's a technical analysis and trading plan based on the ETH/USDT chart you provided (4-hour timeframe on Binance):
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š Current Price Overview:
Current Price: $2,525.88
24h High: $2,569.67
24h Low: $2,453.80
Volume (ETH): 597,720
Trend: Short-term downtrend with consolidation around $2,525
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š Technical Indicators:
1. Moving Averages:
EMA(7): ~$2,534.65
EMA(21): ~$2,556.31
EMA(50): ~$2,577.58
Price is currently below all EMAs, indicating bearish momentum.
2. MACD:
MACD: -3.55
Signal Line: -13.87
MACD is starting to flatten after a deep dip, suggesting potential for a bullish reversal or continued sideways action.
3. Volume:
Volume is moderate, with a recent spike during a down candle. Sellers still dominate but buyers are attempting to stabilize.
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š Key Support & Resistance:
Support:
$2,436.98 (local low)
$2,414.86 (stronger support)
Resistance:
$2,577.58 (EMA50)
$2,695.97 (next major resistance)
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š Trade Plan (Short-Term Swing):
š¢ Bullish Scenario (Breakout Play):
Entry: Above $2,580 (confirmed break above EMA50 with volume)
Target 1: $2,695
Target 2: $2,790
Stop Loss: $2,510
š“ Bearish Scenario (Breakdown Play):
Entry: Below $2,436 (break of local support)
Target 1: $2,415
Target 2: $2,370
Stop Loss: $2,485
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āļø Risk Management:
Risk/Reward Ratio: Aim for at least 1:2
Capital Allocation: Use no more than 5-10% of capital per trade
Set alerts near key levels ($2,580 and $2,436)
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š Neutral Outlook / Wait Strategy:
If price stays between $2,436 and $2,580:
Wait for breakout or breakdown confirmation
Watch for MACD crossover to assess trend shift
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Let me know if you want a medium-term (1D/1W) outlook or a strategy using indicators like RSI, Bollinger Bands, or Fibonacci retracement.