$ETH

ETH/USDC on the 12h timeframe, here's a technical analysis and short-term prediction:

🔍 Current Market Snapshot

Current Price: $4,514.21

24h High / Low: $4,692.11 / $4,457.00

Recent High: $4,791.31

Trend: Recently bullish, now showing signs of possible pullback.

📈 Technical Indicators Analysis

Moving Averages (EMA)

EMA(9): $4,517.30 (price just below, showing short-term weakness)

EMA(21): $4,290.83 (still in uptrend)

EMA(50): $3,943.51 (strong support level)

Price is still above both EMA(21) and EMA(50), which signals an ongoing uptrend, but breaking below EMA(9) could imply a short-term correction.

MACD

MACD Line (DIF): 240.28

Signal Line (DEA): 220.21

MACD Histogram: Positive (MACD - Signal = 20.07)

This indicates bullish momentum, though the histogram bars are shortening, hinting at momentum weakening.

Stochastic RSI

STOCHRSI: 12.52 (Oversold zone)

This indicates that ETH is oversold in the short term, suggesting a possible bounce or at least consolidation.

Volume

Decreasing volume on the latest candles signals weakening buying pressure or early profit-taking.

📉 Price Action

After hitting $4,791, ETH formed lower highs and a red candle, indicating a potential local top.

The price is testing the EMA(9) as support. If this breaks, the next support is near the EMA(21) at $4,290.

🔮 Short-Term Prediction (Next 1–3 Days)

Bearish Bias unless $4,517 (EMA 9) is reclaimed quickly.

🔽 Bearish Scenario (Likely):

Price breaks EMA(9), heads toward $4,290–4,300.

If selling increases, it might test EMA(50) at ~$3,940.

🔼 Bullish Scenario (Less Likely Short Term):

If price quickly reclaims $4,520–4,530, it could retest the $4,700–4,790 region.

✅ Key Levels to Watch

Support: $4,290 (EMA21), $3,943 (EMA50)

Resistance: $4,517 (EMA9), $4,692 (24h high), $4,791 (local top).

#ETH