ETH is currently trading around $1,805, showing a modest recovery from its recent low of $1,385. Momentum has picked up across multiple timeframes, but key resistance zones remain ahead.
Key Levels:
Major Support:
$1,680 – previous consolidation zone
$1,530 – local swing low
Major Resistance:
$1,835 – recent 4H peak
$1,900 – psychological and structural resistance
$2,100 – previous breakdown area
Technical Indicators Summary:
RSI (4H): 66 – bullish but nearing overbought
RSI (1D): 73 – overbought, likely short-term exhaustion
Moving Averages:
Price has reclaimed MA(7) and MA(25) on 1D and 4H, indicating short-term bullishness
Long-term MA(99) is still far above, bearish pressure remains midterm
Long Setup (For Bulls):
Entry Zone: $1,755–$1,785 (on pullback)
Take Profit (TP):
TP1: $1,835
TP2: $1,900
Stop Loss (SL): $1,715 (below recent breakout base)
Short Setup (For Bears):
Entry Zone: $1,835–$1,860 (near resistance zone)
Take Profit (TP):
TP1: $1,755
TP2: $1,680
Stop Loss (SL): $1,885
ETH has made a short-term reversal, but RSI on higher timeframes suggests caution. A clean break above $1,835 with volume could signal continued upside. However, failure at resistance may offer good shorting opportunities for quick trades.
Disclaimer:
This is not financial advice. Always do your own research and consult a qualified advisor before making investment decisions. Trade with proper risk management.
