#BinanceTGEXNY #ScalpingStrategy
ETH going to moon š š š very soon
š ETH/USDT Trading Analysis
š¹ Price Summary
Current Price: $2,434.70
24H Change: +0.94%
24H High: $2,447.80
24H Low: $2,405.81
24H Volume:
ETH: 152,198.47
USDT: 369.74M
š¹ Technical Indicators
MA60: 2,437.66 (slightly above current price)
MA(5): 58.73 (Volume moving average)
MA(10): 73.54 (Volume moving average)
Price Trend: Minor rebound with ongoing bearish pressure
Volume: One spike followed by low, consistent volume suggests short-term speculative activity
š¹ Chart Observation
Sharp early drop followed by range-bound consolidation
The price is hovering just below the MA60, indicating near-term weakness
Spiked volume bar at 06:34 suggests a possible stop-loss trigger or a large sell order
ā Strategy Suggestions
1. Short-Term (Intraday to 1 Day)
Bias: Cautiously Bearish ā Neutral
Entry: Consider entries near $2,428ā$2,430 on confirmation of support
Resistance: $2,438 ā $2,447
Support: $2,425 ā $2,405
Stop-Loss: Below $2,400
Target: Short bounce to $2,445 (tight range, low risk/reward)
2. Swing Trading (1ā7 Days)
Watch for breakout above $2,448 (24H High) for momentum play
If price fails to hold above MA60, further decline to $2,400 or lower likely
Accumulation Zone: $2,390ā$2,420
3. Volume Analysis
Large red volume spike shows potential distribution or liquidation
Low following volume suggests lack of buyer conviction ā wait for confirmation
4. Risk Management
Tight stops and quick exits are advisable given market indecision
If trading with leverage, reduce position size due to low volatility
š Final Note
ETH/USDT is in a cooling-off phase post a downward move. Avoid aggressive entries unless price reclaims MA60 with volume. A sideways move or minor retracement is likely unless broader market catalysts arise.