$ETH Current price: The price is currently trading around $1795.55.
Recent price action: There is relative upward momentum evident from the recent green candles.
Moving averages:
The 7-period moving average (MA(7)) is above the 25-period moving average (MA(25)), both of which are above the 99-period moving average (MA(99)). This arrangement is often seen as a bullish signal.
Relative Strength Index (RSI): The index value at 56.19 indicates that the market is not in overbought or oversold territory, leaving room for further price movement.
Potential support and resistance.
Forecast of potential targets:
Based on the recent upward movement and the potential breakout of the resistance level around $1800 (aligned with the Fibonacci level of 1799.23), the following short and medium-term targets can be expected:
First target: The next Fibonacci level at $1827.32.
Second target: If the upward momentum continues, the price may target higher levels based on other analyses or historical resistance levels not visible in this snapshot.
Proposed buy level:
Entering buy trades may be possible around the current levels ($1795.55) or after confirming a clear breakout of the resistance level around $1800. Buying opportunities can also be sought when the price rebounds from nearby support levels, such as:
First level: around $1775 (the 25-period moving average).
Second level: around $1765 (previous local bottom).
Proposed stop-loss level:
Setting a stop-loss level is crucial for protecting capital. Based on the current analysis, the following stop-loss levels can be suggested:
Conservative stop loss: It can be placed below the nearby support level at around 1760.