ETH/USDT Technical Analysis: Navigating the Current Market
Hey Binance Square community! Let's analyze the ETH/USDT chart.
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Price: $1,895.57 (-0.02%)
Key Points:
Downtrend: Clear downtrend with lower highs/lows.
MA: MA(7) ($1,904.34) below MA(25) ($2,178.33) & MA(99) ($2,946.31) confirms bearish trend.
Volume: 68,166.2844 (moderate).
Support: ~$1,754.28.
Resistance: ~$2,151.19 & ~$2,780.93.
Indicators:
MA/EMA: Trend identifiers.
BOLL: Volatility measure.
SAR: Trend reversal potential.
AVL: Volume trend.
MACD/RSI/KDJ: Momentum indicators.
OBV: Volume-price correlation.
Trade Ideas (NOT Financial Advice):
LONG (Buy): Wait for trend reversal (break above MA(7)).
TP: $2,150-$2,200.
SL: ~$1,700-$1,750.
SHORT (Sell): Breakdown below $1,754.
TP: $1,600-$1,650.
SL: ~$1,950-$2,000.
Disclaimer: Do your own research. This is technical analysis, not financial advice.
Remember: Manage risk.
Questions? Share your thoughts below!
