$ETH Technical Analysis of ETH/USDC (January 12, 2025) 📉📈

1. Current Market Situation:

The price of Ethereum (ETH) is $3,252, marking a 0.65% decrease over the past 24 hours. After a sharp drop, the price has bounced back from the support level of $3,223, which could signal an attempt to reverse the trend.

2. Key Technical Indicators:

• MA(7) (7-period moving average): $3,243.97

• MA(25) (25-period moving average): $3,254.95

• MA(99) (99-period moving average): $3,273.03

The price is currently below the MA(99), which suggests a bearish trend. However, breaking above the MA(7) provides hope for a potential upward correction.

3. MACD Indicator:

• MACD shows a slight bullish signal (1.79), which may indicate weakening downward momentum.

• The DIF and DEA lines are converging, potentially signaling a buy opportunity.

4. Volume:

A noticeable increase in volume during the bounce from the support level indicates buyer activity.

5. Key Levels:

• Support: $3,223 – the level from which the price bounced.

• Resistance: $3,270 – the next key level, which must be broken to confirm a continuation of the upward movement.

Market Scenarios:

📈 Chances of an Upside Move: 60%

• The price has bounced off the key support level at $3,223.

• MACD suggests a potential bullish signal.

• Increasing volume during the rebound points to growing buyer interest.

📉 Chances of a Downside Move: 40%

• The price remains below the MA(99), which reflects the dominance of the bearish trend.

• Failure to break the resistance at $3,270 could trigger another wave of declines.

Summary ✍️

Ethereum (ETH) is at a crossroads – the current rebound might be the beginning of a short-term upward move, but breaking the resistance level of $3,270 will be crucial for confirming the continuation of an uptrend. It’s essential to monitor changes in volume and MACD signals, which could confirm the next price movement.

Will ETH manage to break through the resistance? The next trading hours will be decisive!#moontreder