Technical Analysis – $ETH (4H Chart)
1. Price Action:
Current price: $1,773.28
Recent high: $1,834.60
Recent low: $1,385.05
$ETH has experienced a strong upward movement from around $1,385 to $1,834, suggesting a bullish breakout.
Currently, the price is consolidating in a sideways range after reaching the local high, which might indicate a pause before the next move.
2. Support and Resistance Levels:
Immediate resistance: ~$1,834.60 (recent high)
Immediate support: ~$1,659.43 (previous range high)
Next key support: ~$1,560.48
Consolidation is occurring between ~$1,659 and ~$1,834
3. RSI (Relative Strength Index):
RSI (6): 61.59
Indicates slightly bullish momentum but not overbought—suggesting room for further upside.
If RSI rises above 70, a correction or pullback might be expected.
4. Trend & Sentiment:
The trend has turned bullish in the short term with strong momentum.
Market sentiment appears positive as long as ETH holds above the $1,660-$1,700 support zone.
Conclusion:
ETH/USDT shows a bullish structure on the 4H timeframe, with healthy consolidation after a strong upward move. Watch for a breakout above $1,834 for further upside potential, while maintaining caution if price drops below $1,659, which could trigger a retracement toward lower support zones.