๐ Ethereum (ETH/USDT) Technical Analysis โ March 24, 2025
๐ฅ Current Price: $2,095.04 (+4.02%)
๐ 24H High: $2,098.29
๐ 24H Low: $1,977.67
๐ RSI: 70.84 (Near Overbought)
๐ Price Action Analysis
Ethereum is showing strong bullish momentum today! ๐ The price has surged from $1,977 to $2,095, reflecting a solid breakout.
โ Higher Highs & Higher Lows ๐ โ ETH is making consistent higher highs, indicating a strong uptrend.
โ Support & Resistance Levels:
๐น Support: $1,977 ๐
๐น Resistance: $2,100 ๐
If ETH breaks above $2,100, we could see a rapid move towards $2,150-$2,200! But if rejection happens, a pullback to $2,050 is likely.
๐ Indicators Breakdown
๐ก Moving Averages (MA):
๐ธ MA(5): $3,600.09
๐น MA(10): $5,252.55
Moving averages indicate strong momentum, but short-term traders should be cautious if ETH starts consolidating near resistance levels.
๐ข Relative Strength Index (RSI): 70.84 (Near Overbought)
๐ A reading above 70 suggests ETH is overbought, meaning a pullback or correction could be on the horizon. However, if the momentum stays strong, ETH could break through resistance zones.
๐ Volume Analysis:
ETH has seen high trading volume, confirming strong buying interest. If volume remains consistent, expect a continuation of the uptrend.
โก Whatโs Next for ETH?
๐ฎ Bullish Scenario:
If ETH breaks & holds above $2,100, expect a move to $2,150-$2,200 in the coming sessions. ๐
๐ป Bearish Scenario:
If ETH fails to break $2,100, it could pull back to $2,050 or even $1,990 before another leg up.
๐ก Trading Strategy for Beginners
1๏ธโฃ For Long Traders:
โ Buy on dips near $2,050 with a stop-loss at $1,990.
โ Target $2,150-$2,200 for profit booking.
2๏ธโฃ For Short Traders:
๐ซ Avoid shorting unless a clear rejection at $2,100 happens.
3๏ธโฃ Risk Management:
๐ Always use a stop-loss to protect your capital!
