from EchoCrypto
At the time of analysis, Ethereum is trading around $1,590–$1,620, showing signs of correction after a recent rise. Let's consider key levels, indicators, and possible scenarios for the upcoming days.
📊 Overall market situation
Ethereum is in a correction phase after reaching a local maximum. The current price is fluctuating in a narrow range, which may herald significant movement soon.
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🔍 Technical indicators
EMA 50 and EMA 200 (4H): The price is between these averages, indicating uncertainty in the short term.
RSI (4H): Around 50 — neutral zone, a breakout above 60 is possible with increased volumes.
MACD: Indicates a possible upward reversal, but confirmation is required.
Volumes: Decreasing, which may indicate accumulation before movement.
🔥 Key levels
Support: $1,580 / $1,550 / $1,500
Resistance: $1,630 / $1,670 / $1,700
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🧭 Scenarios for the week
✅ Bullish scenario:
Breaking the level of $1,630 with a consolidation may open the way to $1,670 and then to $1,700. Confirmation with volumes will strengthen the signal.⚠️ Bearish scenario:
Breaking the support at $1,580 down may lead to a decrease to $1,550 and then to $1,500. Lack of support may increase selling pressure.
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🎯 Potential entries
Level Type Strategy
$1,590–$1,600 Long Rebound from support with a short stop loss
$1,630 Long Breaking resistance with confirmation
$1,550 Short Breaking support with a target at $1,500
$1,670 Short Rebound from resistance with low volume
Trading without leverage, following risk management.
🧠 My thoughts
Ethereum is in a zone of uncertainty, and the market is waiting for a catalyst for movement. We are monitoring volumes and reactions to key levels. Both a continuation of the correction and a resumption of growth are possible under favorable conditions.
📌 Summary
ETH is consolidating in a narrow range. We expect a breakout of one of the key levels to determine the further direction. Trade cautiously, following risk management rules.
Disclaimer: This analysis is not financial advice. All market actions are undertaken at your own risk. Manage your capital wisely and do not neglect risk management.
EchoCrypto — I keep my finger on the pulse.
