Ethereum ($ETH ) Price Analysis
Price Trend
$ETH has seen a strong upward move, climbing from around $1,537 to a high of $1,818.18. It’s currently trading near $1,798.30, just below the local resistance at $1,818.
Candlestick Pattern
Recent price action shows multiple large bullish candles, reflecting strong buying momentum. A smaller candle has followed, hinting at potential consolidation or a short-term pause.
RSI (Relative Strength Index)
The RSI(6) is at 87.13—deep in overbought territory. This suggests the possibility of short-term selling pressure or a pullback.
Support & Resistance
Support levels: $1,708, $1,646, $1,585
Resistance levels: Immediate resistance at $1,818, followed by psychological levels at $1,850 and $1,900
Volume
Although specific volume data isn’t shown, a move of this magnitude typically involves high volume, pointing to strong market participation.
Conclusion & Strategy
The trend remains bullish, but the elevated RSI hints at a possible near-term correction.
A clear break above $1,818 could open the door to $1,850 or higher.
If a pullback occurs, the $1,770–$1,708 zone may offer support for a potential bounce.