Market Analysis:
Market is showing positive movement in all coins.
Movement of Etherium:
1. Price Trend ($ETH):
From approximately $1,537 to a top of $1,818.18, $ETH has demonstrated a robust upward trend.
• At $1,798.30, the price is currently just below the $1,818 local resistance.
2. Pattern of Candlesticks Strong buying pressure is indicated by the numerous huge bullish candles. A little candle that developed following the rally may indicate consolidation or a possible short-term reversal.
3. Relative Strength Index (RSI)
• The RSI(6) is in the overbought zone at 87.13, suggesting a potential short-term market correction or impending selling pressure.
4. Levels of Support and Resistance • $1,708, $1,646, and $1,585 are important assistance. • The psychological zones at $1,850 and $1,900 come after the initial resistance at $1,818.
