Technical Analysis based on the chart (1D)
Current price: $1,809.26
EMA (Exponential Moving Averages):
๐ EMA(7) = 1,760.90
๐ EMA(25) = 1,728.49
๐ EMA(99) = 2,173.63
Conclusion:
The price is trading above EMA(7) and EMA(25), indicating a local bullish momentum. However, EMA(99) remains much higher, meaning the global trend is still bearish.
RSI(6) = 71.43
๐ Right at the overbought zone (>70). A pullback or consolidation is possible.
Stochastic RSI = 96.29
โ ๏ธ Extremely overbought โ a short-term correction is likely.
Williams %R(14) = -15.06
๐ Almost in the extreme overbought zone (closer to 0%).
MACD:
๐ DIF = -5.85
๐ DEA = -47.23
๐ MACD = 41.38
MACD lines have crossed upward + the histogram is positive, confirming a bullish impulse starting.
OBV (On-Balance Volume) = -6,361,306.36
๐ Volume doesnโt show a strong inflow of liquidity yet โ the rise is happening on relatively weak volume.
Asset State Evaluation:
Ethereum has entered a local rebound phase after a long downtrend. Overbought indicators suggest a possible small pullback in the coming hours/days.
Globally the trend is still weak (EMA(99) far above), but short-term sentiment is bullish.
Potential Entry Points:
Long:
After a local pullback to support zones:
๐ First long zone: $1,780 โ $1,760 (around EMA(7))
๐ Safer long: $1,740 โ $1,730 (EMA(25) zone)
Short:
๐จ Aggressive shorting right now is risky.
Short scenario โ if the price fails to hold above $1,800 โ $1,820 and starts falling:
๐ Break below EMA(7) + MACD bearish crossover โ a signal for short entry.
Potential Profit-Taking Targets:
For a long:
๐ $1,857 โ local 24h high
๐ $1,950 โ next strong resistance level
๐ $2,170 โ EMA(99), very strong resistance (maximum target for current trend)
For a short:
๐ $1,760 โ EMA(7) support
๐ $1,730 โ EMA(25) support
๐ $1,385 โ previous major low, strong daily support
Brief Summary:
Trend: Locally bullish, globally still bearish.
Risks: High overbought conditions โ correction risk is elevated.
What to do: Watch for pullbacks to support zones for possible longs. Shorts only after a clear breakdown confirmation.
$ETH ๐๐๐
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