#DeepSeekImpact
Based on the ETH/USDT weekly chart on Binance:
1. Overall trend
• ETH had a strong rally earlier, peaking near 4,877 USD, then declined and is currently accumulating around 3,126 USD.
• The current price is close to the EMA 25 line (3,163 USD) and below the EMA 7 (3,283 USD), indicating that the short-term trend may be weakening.
2. Support & Resistance
• Nearest resistance: 3,280 - 3,300 USD (EMA 7 area and previous accumulation zone). If broken, ETH could target 3,500 - 3,800 USD.
• Strong support: 3,000 - 3,038 USD. If ETH loses this area, it may revisit the 2,800 USD level.
3. RSI Indicator
• RSI(12) = 48.9, RSI(24) = 51.2 → Currently in the neutral zone, with no signs of overbought or oversold.
4. Trading volume
• Trading volume is not too high, indicating that buying/selling pressure is not strong, and ETH is in an accumulation phase.
Upcoming assessment:
• Bullish scenario: If ETH holds above 3,100 USD and breaks 3,280 - 3,300 USD, the price may continue its upward trend to 3,500 - 3,800 USD.
• Bearish scenario: If ETH breaks below 3,038 USD, selling pressure may pull the price down to 2,800 USD.
➡ Strategy: Wait for confirmation signals (breakout or bounce from support), avoid FOMO, consider entering a position when the price exceeds 3,300 USD with high volume.