๐ ETH Analysis โ RSI High, But Price Dips: Bull Trap or Buy Zone? ๐
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๐ง Ethereum (ETH), the leading DeFi token, is showing mixed signals. Despite a strong RSI above 73, price has dipped 1.74% from its recent high. Traders are watching closely for signs of continuation or correction.
๐ Technical Analysis
- Short-term trend: Slightly bearish
- Support: $4,451.33 (24h low)
- Resistance: $4,766.66 (24h high), with a peak at $4,788.00
- Pattern: Pullback after local top; no breakdown yet
- Volume: Strongโ1.22M ETH traded, backed by 5.59B USDT
- Indicators:
- RSI at 73.22 suggests overbought conditions
- MA(5) > MA(10), still favoring bullish structure
- Outlook: Neutral to slightly bearish unless price reclaims $4,766 with volume
๐ฐ Market Data & News
- Current Price: $4,650.82
- 24h Change: -1.74%
- No major ETH-specific headlines, but macro uncertainty is weighing on large caps
๐ Scenario Breakdown
- Bullish Case: Reclaim of $4,766 with volume and RSI holding above 70 could push toward $4,850+
- Bearish Case: Drop below $4,451 confirms deeper correction toward $4,300
๐ Sentiment Meter
๐ Neutral โ Range-bound, no clear direction
โ ๏ธ Risk Level
๐ก Medium โ Some signals align, but confirmation needed
Will ETH reclaim $4,766 or slide toward $4,300? Drop your take below ๐
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๐ Comment your bias: Bullish or Bearish?
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๐ข Reminder: This is educational content. No guarantees, no adviceโjust charts, data, and perspective.$ETH