Ethereum (ETH) is currently trading at $3,371.13, showing a consolidation pattern after recent market activity. Here's a detailed breakdown of the 4-hour chart:
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📊 Key Levels to Watch:
Resistance: $3,419.97 (Recent high). Breaking this could signal a continuation of the upward trend.
Support: $3,236.40. A breakdown below this level might lead to further declines.
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📈 Moving Averages (MA):
EMA 20 (Yellow): $3,310.60 – Acting as dynamic support. ETH is trading above this level, indicating bullish momentum in the short term.
EMA 50 (Orange): $3,306.90 – Confirming support for the medium-term trend.
‼️ Bullish Signal: Price remains above both EMAs, which could indicate a continued upward trend if maintained.
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📉 Indicators:
RSI (14): 57.50 – Momentum remains neutral-bullish, leaving room for further growth.
MACD: 7.12 – Bullish crossover observed, showing increasing positive momentum.
Stochastic RSI: 38.83 – Near oversold territory, indicating a potential rebound.
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🔍 What to Expect Today:
1. Bullish Scenario: A breakout above $3,419.97 could lead ETH toward $3,500. Keep an eye on the MACD and RSI for confirmation.
2. Bearish Scenario: If ETH breaks below $3,310, a retest of $3,236.40 could be on the horizon.
📌 Pro Tip: Monitor volume spikes to confirm breakouts or breakdowns. Always combine technical indicators with fundamental analysis to make informed decisions.
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