Technical Analysis of ETH/USDT – 4 Hour Frame

Ethereum (ETH) has recorded a strong rise over the past hours, having launched from a strong support level at 1537.26 USDT to rise by more than 17%, reaching the current resistance at 1818.18 USDT. The price is now trading at 1803.67 USDT and shows strong buying momentum, but as it approaches a critical resistance area, we may witness either a continuation of the rise or the beginning of a correction.

Positive Scenario: A clear breakout above the 1818 level could drive the price towards levels of 1870 – 1900 USDT.

Negative Scenario: Failure to break out could lead to a correction towards areas of 1700 – 1646 USDT.

Support Areas: 1700 – 1646 – 1537

Main Resistance: 1818

Traders are advised to monitor price movement around the resistance and confirm the breakout before making any decisions, while employing good risk management.

Note: This analysis is not financial advice, but for educational and analytical purposes only

$ETH