📊 ETH — Candle Analysis and Trading Plan
🔍 Market Overview
Price: $4,637.17
Time Frame: 4 Hours
Trend: Bullish with consolidation after a strong rally
Moving Averages:
MA(7) above MA(25) → Short-term momentum remains positive
Both averages above MA(99) → Overall market structure is bullish
🕯 Candle Behavior Analysis
Late July – Early August:
Sideways movement with relatively small candles.
Selling pressure testing support at $3,354, but the support held.
Breakout in early August:
Strong ascending candle series with higher highs and higher lows.
High trading volumes confirm buying strength.
From August 12 to 14:
Large green candles followed by long upper shadows → Indicators of partial profit-taking.
Price remained above MA(7) indicating buyer defense.
Current Situation:
Slight decline while maintaining support at $4,600.
Decline in trading volume → Healthy correction after the rise.
📈 Trading Plan
Bullish Scenario:
If ETH holds support at $4,600 and breaks $4,750 with strong trading volumes → Target $4,950 – $5,050.
Bearish Scenario:
Breaking support at $4,600 may open the way for a retest of $4,450 (near MA(25)).
Strategy:
For swing traders: Buy on dips near MA(25) with a stop loss below $4,450.
For quick traders: Wait for breakout confirmation before entering.
💬 What do you think — Is #ETH ready for a new uptrend or are we facing a deeper correction?
