TECHNICAL ANALYSIS: $ETH/USDT
The second chart displays a major cryptocurrency, likely Ethereum ($ETH), given the price range (\approx 3,851) and the context of a high-volume trading environment. The chart is in a 1-hour timeframe and shows a significant breakdown in price action.
Key Indicators:
* Moving Averages (MA): The current price (\approx \$3,851.52) has decisively broken below all three key Moving Averages: the MA(7) at \approx \$3,909.09, the MA(25) at \approx \$3,922.97, and the MA(99) at \approx \$3,935.57.
* MA Crossover: The shorter-term MA(7) is now crossing below the medium-term MA(25), confirming strong downward momentum (a bearish crossover).
* Price Action: The large bearish candle that broke below the consolidation range and MAs indicates strong selling pressure. The market is heading toward the recent local low of \approx \$3,821.64.
Short Trade Setup:
* Entry: \approx \$3,851 (Around current price, confirming the breakdown).
* TP 1 (Target Price 1): \approx \$3,820.00 (Targeting the recent swing low/support).
* TP 2 (Target Price 2): \approx \$3,800.00 (Next psychological support level).
* SL (Stop Loss): \approx \$3,915.00 (Placed just above the MA convergence area to invalidate the short thesis).
Short Outlook of Market:
The immediate market outlook is bearish. The strong rejection from a recent high and the decisive break below major moving averages on the 1-hour chart suggest that sellers are currently in control. We expect the price to retest the recent low around \text{\$3,821} and potentially move toward the \text{\$3,800} psychological level before finding new support or attempting a reversal.
#ETH #Ethereum #CryptoTrading #ShortSignal #TechnicalAnalysis
