$ETH Based on the 12-hour chart
๐ Current Price: $3,706.49
Up +6.11%, showing a strong bounce.
Trading just below the recent 12h resistance near $3,727.
๐ Exponential Moving Averages (EMA)
EMA(9) = $3,592.62
EMA(21) = $3,623.11
EMA(50) = $3,466.21
โ Bullish crossover: Price has just broken above EMA(9) and EMA(21).
This is typically a bullish signal, especially after a period of correction.
๐ MACD Indicator
MACD Line (DIF) = -2.95
Signal Line (DEA) = 28.53
MACD Histogram = -31.48 (still negative but decreasing)
โ ๏ธ Although MACD is still in bearish territory, the histogram shows momentum is recovering, which could indicate a potential bullish crossover if the trend continues.
๐ Stochastic RSI
Stoch RSI = 38.61
Signal = 24.62
โ Rising from oversold levels. If it continues upward, it would confirm a trend reversal.
๐ Support & Resistance Levels
Immediate Resistance: $3,727
Major Resistance: $3,942 (previous local top)
Support Zones:
$3,466 (EMA50)
$3,462 (previous consolidation zone)
๐ฎ Forecast (Next 24โ48 hours)
๐ผ Bullish Scenario:
If ETH breaks above $3,727 with volume, expect a move toward $3,800โ$3,940.
Reclaiming this range could signal a return to bullish market structure.
๐ฝ Bearish Scenario:
If price fails to hold above EMA(21) and drops below $3,590, expect a retest of the $3,460โ$3,470 support range.
A breakdown here could lead to deeper retracement toward $3,300.
โ Summary
Trend Reversal in Progress: Technicals are pointing toward a potential recovery.
Watch for confirmation via volume and a MACD crossover.
Short-term bullish outlook unless price gets rejected at resistance or falls below EMA levels again.
