#ETH latest update at 6 AM on April 23, 2025.

Based on the ETH/USDT charts on the 1H and 4H timeframes, here is a detailed analysis:

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Overview:

Current price: ~1744 USDT

Strong increase of +10.7%, from the most recent low of 1535

Both the 1H and 4H timeframes are heavily overbought (RSI > 80)

MACD gives a strong bullish signal, histogram widening, MACD line crosses above DEA

MA(7) > MA(25) > MA(99): clear uptrend

Trading volume is increasing significantly -> confirming the upward momentum is real

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Important price levels:

Nearest resistance: 1779 (the candle was just rejected)

Short-term support: the range of 1700 – 1712 (MA7 on H1)

Strong support: 1638 – 1650 (MA25 – MA7 on 4H)

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Short-term trading strategy (Scalp / Swing):

1. Long if there is a pullback:

Wait for the price to return to test the range of 1712 – 1720 (technical correction after a strong pump)

Confirmation signals: long wick candle + decreasing volume + RSI dropping to around ~60–65

Entry: 1712 – 1720

SL: below 1680

TP1: 1775

TP2: 1795+

2. Short in the short term if there is a failed breakout:

If the price tests back to 1775 – 1780 but is strongly rejected, creating a pinbar/bearish engulfing on H1

RSI is still overbought, a correction is possible

Entry: 1775 – 1780

SL: above 1795

TP1: 1725

TP2: 1685

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Note:

Do not FOMO in right now as RSI is extremely high => there may be a short-term technical correction.

Observe price behavior around the range of 1710 – 1725 for a more reasonable Long entry, or look for Short if there are clear reversal signals at 1775.