#MarketRebound #MarketRebound Price Direction ($ETH)

• The price of $ETH has shown strong bullish movement, rising from around $1,537 to a peak of $1,818.18.

• The current price is about $1,798.30, slightly below the local resistance at $1,818.

2. Candle Pattern

• There are several large bullish candles, indicating strong buying pressure.

• A small candle formed after the rise, which may suggest consolidation or a potential short-term reversal.

3. Relative Strength Index (RSI)

• The Relative Strength Index (6) is at 87.13, which is in the overbought territory.

• This indicates potential selling pressure ahead or a short-term price correction.

4. Support and Resistance Levels

• Key supports: $1,708, $1,646, and $1,585.

• Immediate resistance: $1,818, followed by psychological levels at $1,850 and $1,900.

5. Volume

• Volume data is not detailed in this chart, but such price spikes are usually accompanied by high volume, indicating strong market participation.

Conclusion and Possible Actions:

• The current trend is bullish, but the RSI indicates a potential short-term pullback.

• A breakout and hold above $1,818 could lead to $1,850 or higher.

• If a correction occurs, the $1,770–$1,708 area may act as support for a potential rebound.