ETH
Chart Breakdown:
• Current Price: $1,660.51
• 24h High / Low: $1,691.50 / $1,562.01
• EMA Levels:
• EMA(7): 1,637.80 (short-term bullish, price is above)
• EMA(25): 1,609.02 (price is well above)
• EMA(99): 1,696.78 (this is acting as resistance)
• Stoch RSI:
• %K: 83.98
• %D: 73.67
• Stochastic RSI is in the overbought zone, momentum is strong but might signal a pullback soon.
• Candlestick Structure:
• Strong bullish candles leading up to recent high of 1,691.50.
• Last candle shows slight rejection near this high (resistance).
• Order Book:
• Buy/Sell ratio is bullish at ~92% buyers.
• Bid/Ask spread is tight.
⸻
Analysis:
• Price is currently in a bullish short-term structure.
• EMA(7) > EMA(25) suggests intraday bullish momentum.
• However, price is close to EMA(99) at 1,696.78, which could act as resistance.
• Stoch RSI in overbought zone means upside could be limited unless it breaks above with volume.
• Market sentiment (order book) is bullish, but candles show slight hesitation at resistance.
⸻
Intraday Trading Signal:
Bias: Bullish with caution for potential pullback
Trade Plan:
• Buy on dip: If price retraces to support at 1,637 - 1,640 zone (EMA 7) with bullish confirmation.
• Take Profit (TP): Around 1,690 - 1,696 (previous high and EMA(99) resistance).
• Stop Loss (SL): Below 1,609 (EMA 25 level) to manage risk.
OR
• Breakout Buy: If price breaks and closes above 1,696.78 (EMA 99) with volume, target next resistance at 1,765 - 1,770.
• Stop Loss: Below 1,680 if breakout fails.
⸻
Summary:
• Current trend: Bullish intraday
• Signal: Wait for dip-buy or breakout confirmation.
• Risk: Stoch RSI is overbought, risk of short-term pullback.
• Sentiment: Positive, buyers are in control
