🔹Current Snapshot:
Price: $3,629.48
24h Range: $3,546 – $3,662
Recent High: $3,941
Support Zone: $3,545 – $3,600
Resistance Zone: $3,660 – $3,720
🔍 What the Chart is Telling Us:
After hitting $3,941, ETH pulled back and entered a short-term downtrend.
It found solid support at $3,546 and has bounced, creating a higher low, which is a positive sign.
Price action suggests a possible bullish consolidation, and if momentum continues, we might be seeing an ascending triangle forming.
📈 Key Indicators:
Volume has picked up near support — showing buyers are stepping in.
MA(5) vs MA(10): The 5-period moving average (yellow) is trying to cross above the 10-period (purple), signaling a possible bullish crossover.
Momentum is gradually recovering after the recent dip.
🧭 What to Watch Next (Short-Term Outlook):
✅Bullish Case:
If ETH holds above $3,600, it could aim for:
$3,700, then possibly $3,770
A breakout above $3,770 might retest the $3,900–$3,941 zone
⚠️Bearish Case:
If it drops below $3,545, watch for:
Next support around $3,325 – $3,300
A break below $3,300 could weaken the trend further
📝Summary:
Ethereum is trying to bounce back after a healthy correction. As long as it stays above $3,600, there’s a good chance of a short-term rally. Keep an eye on volume and how price reacts near resistance levels — it’ll help confirm the next move.