#Technical Analysis
ETH/ USDT
1D
June 22
📉 Trend: Moderate bearish
- Most technical indicators show bearish signals: MACD, MOM, Parabolic SAR, TD Sequential (10 red candles), and the price below the SMA50.
- The extremely low RSI reading in the image (2.22) indicates extreme potential for overselling, although there could be divergence with the textual value (35.06). This suggests that the market may be excessively pressured downward.
🛠 Indicators
- CCI: -179.59 ➡️ Intense overselling, could anticipate a technical rebound.
- BBands: The price is close to the lower band ➡️ Likely rebound condition if volume supports.
- ATR (138.47): High recent volatility ➡️ Room for wide swings.
- ADX (weak): The strength of the bearish trend is moderate ➡️ There may soon be a change in momentum.
📈 Speculation Levels
📍 Current Price: ~2,268
🔺 Key Resistance (TP):
- 🎯 TP1: 2,350 (previous equilibrium zone + test of the middle Bollinger band)
- 🎯 TP2: 2,445 (proximity to SMA50, possible technical rejection)
🔻 Key Support (SL):
- 🛡 SL1: 2,190 (recent observable low on the chart)
- 🛡 SL2: 2,145 (previous congestion zone + structural support of the daily channel)
📌 Projection of Likely Scenario:
With the current data, Ethereum could seek a short-term technical rebound towards the zone of 2,350 to 2,445 if overselling conditions are maintained. However, if it loses the zone of 2,190 with increasing volume, the price could test lower levels (below 2,145).
📎 Operational Suggestion (conservative swing trade):
- Speculative entry: near 2,260
- Stop loss: 2,190
- Take profit: 2,350 and partial at 2,445
- Estimated risk/reward ratio: 1.5 – 2.2
Remember:
Cryptocurrency trading carries a high risk. (DYOR)
vc_custy
🫖☕️😎