Observations from the $ETH

/USDT Chart:

  1. Current Price: $3,294.35, showing a slight decrease of -0.52% today.

  2. 24H Range: The price fluctuated between $3,227.00 (low) and $3,378.11 (high), indicating moderate volatility.

  3. Volume: High trading activity with 636,637.39 $ETH traded in the past 24 hours.

  4. Market Sentiment:

    • 17.04% Buy vs. 82.96% Sell suggests short-term bearish pressure.

    • Long-term performance over 90 days (+21.92%) and 1 year (+31.98%) shows a steady uptrend overall.

Predictions & Strategy:

Short-Term Traders:

  • Bullish Scenario: If $ETH breaks above $3,378.11 (24H High), it could target $3,400–$3,450. Consider entering a long position with a stop-loss below $3,250.

  • Bearish Scenario: If ETH drops below $3,227.00, a further correction to $3,200 or $3,150 is possible. Short positions could be profitable but risky.

Long-Term Investors:

  • Ethereum remains strong for long-term gains, especially with advancements in Layer 2 and DeFi projects. Accumulate on dips near $3,200–$3,250 for better entry points.

Key Levels to Watch:

  • Resistance: $3,350 and $3,400

  • Support: $3,250 and $3,200

Risk Management:

  • Set stop-loss orders to manage risks due to the high sell pressure.

  • Watch for Bitcoin's price movements, as ETH often correlates with BTC.

Key Indicators to Monitor:

  • MACD & RSI: Look for bullish or bearish divergences to confirm momentum.

  • Volume Trends: Increasing volume near resistance may signal a breakout.

Caution:

Crypto predictions are inherently risky due to high volatility. Use proper technical analysis and stay updated with Ethereum-related news to make informed decisions.

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