$ETH
Look at what this ETH/USDC chart shows before offering a cautious short-term prediction.
đ˘ Quick Recap of the Chart:
Time Frame: 12h candles
Price: 3,829.25 USDC
Indicators:
EMA(9): 3,699.85 (yellow line)
EMA(21): 3,666.13 (pink line)
EMA(50): 3,519.33 (purple line)
MACD: DIF = 34.74, DEA = 19.83 (positive divergence, MACD histogram increasing)
Stoch RSI: 87.03 (high/near overbought)
Volume: Increasing on the latest candles
Recent Price Action:
Bounced from the local low ~3,354
Crossed above EMA(9), EMA(21), and retesting EMA(50)
Strong upward momentum in the last 2â3 candles
Approaching the recent high area (3,866â3,942)
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â ď¸ Interpretation:
Bullish Factors:
Price reclaiming all 3 EMAs
MACD histogram rising, showing bullish momentum
Volume rising as price increases
Higher low confirmed at 3,354
Bearish Risks:
Stoch RSI is overbought (>80), signaling possible short-term pullback
Approaching resistance near 3,866â3,942
If momentum stalls, price could retest 3,700â3,750 support
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đ˘ Short-Term Prediction (1â3 days):
Base Case (more likely):
ETH continues to test resistance near 3,866â3,942.
If volume holds up, it can break out above 3,950 and attempt 4,000 psychological level.
Otherwise, a rejection near 3,900 could lead to consolidation around 3,750â3,800.
Aggressive Bullish Scenario:
Sustained buying pushes price decisively above 3,950.
Next target: 4,050â4,150 zone.
Bearish Scenario:
Failure to break resistance + overbought Stoch RSI.
Potential pullback to 3,700â3,750 support, possibly 3,600 if selling accelerates.
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đŻ Trading Notes (Not Financial Advice):
Momentum traders may look for confirmation of breakout above 3,866 with strong volume.
Cautious traders may wait for a retest of the 3,750 area before entering.
Keep an eye on Stoch RSI cooling off (as it is near extreme levels).
