Overall trend (short-term): Upward
* Price above MA lines: The current price ($1,783.54) is above the MA(5), MA(10), and MA(20) moving averages, indicating that the upward trend is being maintained in the short term.
* Upward momentum: Recent green candles with large bodies indicate strong buying pressure.
* MACD: The MACD line is above the signal line (DEA) and the MACD histogram is trending upwards (or narrowing the decline), indicating strong upward momentum.
* RSI: The RSI indicators (14, 45, 89) are all above 50, indicating that the buyers are in control.
Important resistance level:
* $1,838.00: This is the nearest peak and a strong resistance level. The price needs to break above this level with large volume to confirm the continuation of strong upward trend.
* Upper Bollinger Band ($1,853.12): This is a dynamic resistance area.
Important support level:
* Middle Bollinger Band ($1,752.60): The nearest support level.
* MA(5) ($1,724.91): Short-term dynamic support level.
* Previous lows around $1,647 and $1,535: Stronger support levels in case of a deep price pullback.
Current price action:
* The price is trading near the recent high, indicating that buying pressure still exists.
* However, the RSI indicators are nearing the overbought zone, which may signal a slight pullback.
Short-term forecast:
* Bullish scenario: If the price breaks above the resistance of $1,838.00 with high trading volume, ETHUSDT is likely to continue towards higher targets, possibly in the $1,850 - $1,900 range.
* Adjustment scenario: If the price cannot break above $1,838.00 or bearish reversal candles appear, a pullback to support levels of $1,752.60 or $1,724.91 is likely.
Trading advice (for reference only):
* If you are in a long position: Consider taking partial profits as the price approaches resistance levels. Set a stop-loss to protect profits.
* If you are waiting to buy: Watch the price action at support levels. Consider entering a position if there is a strong bullish reversal signal.
* If you are waiting to sell: Watch the price action at resistance levels. Consider entering a position if there is a clear bearish reversal signal.
