Current Price: $4,644.39 (-2.37%)

Pair: ETHUSDT Perpetual

$ETH

Ethereum just pulled back from a recent high of $4,788 to around $4,603, but the short-term trend is still leaning bullish. Let’s break down the signals, scenarios, and key levels you need to watch before the next 12 hours unfold.

📊 Technical & Sentiment Snapshot

Short-term trend: 5-period EMA ($4,607) remains above the 10-period EMA ($4,470) — bullish alignment still intact.

Overbought signals: RSI (~70) and StochRSI (>92) both in hot zones, hinting at possible sideways movement or a quick cool-off.

Momentum strength: MACD stays bullish with DIF (~258.6) above DEA (~206.4).

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📈 Trading Scenarios (Next 12 Hours)

Scenario Trigger & Levels Implication

Bullish Continuation Holds above EMAs, breaks $4,650–$4,700 Push towards $4,800 possible

Sideways Consolidation Ranges between $4,550–$4,650 Market digests gains; watch volume for breakout clues

Quick Pullback Drops below $4,550 Could test $4,500 support before recovering

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🎯 Key Levels to Watch Tonight (UTC)

Support:

Primary: $4,550–$4,600 (between EMAs & recent lows)

Secondary: $4,500 if primary breaks

Resistance

Near-term: $4,650–$4,700

Extended target: $4,800 and beyond

🔍 What to Watch Closely

EMA Rebounds: Strong bounce from EMAs can trigger fresh upside momentum.

Candle & Volume: Bullish continuation more likely if green candles form on above-average volume.

RSI/StochRSI Drift: A drop out of overbought without big price damage shows buyers still holding control.

#ETH

🌎 Broader Market Context

Ethereum recently hit a 4-year high (~$4,666), fueled by strong institutional flows — including a reported $500M ETF inflow on Aug 12.

Analysts eye potential upside towards $5,241 based on MVRV bands if bullish sentiment holds.

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📝 Summary: The 12-Hour Playbook

Bias: Short-term bullish (EMA crossover + MACD strength)

Caution: Overbought readings could stall momentum before another leg higher

Key Zone: $4,550–$4,600 support — holding it could set up a breakout above $4,700

Approach: Consider scaling in at support and confirming breakout rather than chasing overextended prices

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⚠ Note: Community “square” alerts (Binance, Dr. Anjum, etc.) may offer differing takes — use them as informational, not financial advice.

Markets at these levels can flip quickly. Stay risk-aware and size positions carefully.

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TL;DR:

Trend: Bullish, but overheated

Watch: $4,550–$4,600 (support), $4,650–$4,700 (breakout zone)

Mindset: Be ready for a pause before the next push