ETHUSDT is currently trading at $1,792.15, reflecting a 0.32% decline in the last 24 hours. The price has fluctuated between a low of $1,730.60 and a high of $1,816.00, showing some recovery after a recent drop to the local bottom of $1,384.00.
Technically, ETH has reclaimed key short-term moving averages, with the price now sitting just above the 7-period MA ($1,792.96) and significantly above the 25-period MA ($1,657.54). However, the long-term 99-period MA ($2,223.33) is still far above, indicating that while the recent trend is bullish, the broader trend remains bearish unless ETH breaks key resistance levels.
Volume increased notably during the reversal from the bottom, especially as ETH pushed past the $1,700 zone. However, volume has since stabilized, indicating consolidation. The RSI (6) currently stands at 64.45, still below the overbought threshold of 70, suggesting ETH may have room for further upward movement before facing major selling pressure.
If ETHUSDT can maintain its position above $1,790 and break the recent high of $1,816.00, it could challenge the next resistance around $1,880–$1,900. Conversely, a failure to hold current support may result in a pullback toward the $1,720–$1,740 range, where short-term MAs could act as support.
In summary, ETH shows signs of a short-term bullish reversal, supported by improving RSI and a break above key moving averages. However, traders should remain cautious as it approaches resistance and still trades below long-term trend lines.
