ETH/USDT 4hr Chart: Bullish Momentum with Caution ๐โ ๏ธ
Ethereum's 4-hour chart reveals a strong uptrend, currently trading around $1813.31. The price has broken above the upper Bollinger Band ($1784.31), suggesting short-term overextension. The Stochastic RSI (K: 68.67, D: 65.96, J: 74.08) also indicates overbought conditions, warranting caution.
The MACD (DIF: 32.47, DEA: 35.03, MACD: -2.56) is still negative, hinting at potential bearish divergence if price continues higher without the MACD turning positive.
Spot Trade Signal (Consider with caution due to overbought signals):
Potential Entry (Low Risk): If ETH pulls back to the upper Bollinger Band around $1780-$1790 and shows signs of support.
Stop Loss: Below the middle Bollinger Band ($1749.79).
Target 1: $1850
Target 2: $1900
Rationale: Riding the bullish momentum, but with a tight stop due to overbought indicators. A pullback to the upper band could offer a lower-risk entry.
