Here is the technical analysis based on the ETH/USDT (Ethereum against USDT) chart screenshot in the 1 hour (1H) timeframe from the Binance application:
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📌 Current Price
Last Price: 2,793.29 USDT
Today’s Increase: +4.32%
High 24 Hours: 2,834.86
Low 24 Hours: 2,655.61
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🕯️ Candlestick Analysis & Trend
The last candlestick shows strong bullish momentum with large volume.
The price has just bounced from the support area around 2,655 and broke through the small resistance around 2,750–2,780.
There appears to be potential towards the next resistance at 2,835 (high 24 hours). If it breaks, it could continue to 2,880–2,900.
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📊 Technical Indicators
✅ MACD (Moving Average Convergence Divergence)
MACD Line (blue): 5.34
Signal Line (red): 81.84
The histogram shows bullish momentum beginning to form.
Potential golden cross (positive crossover) in the near future, which could be a strong buy signal.
✅ Moving Averages (MA)
MA(5) and MA(10) are starting to trend upwards.
MA5 > MA10, indicating a short-term bullish trend.
If the candle remains above MA5, the rally potential continues.
🔊 Volume
Large volume supports the price rally → confirming the breakout from the previous consolidation phase.
📈 Historical Performance (at the bottom):
7 Days: +7.24%
30 Days: +13.04%
90 Days: +49.21%
180 Days: -28.99%
1 Year: -24.49%
➡️ This indicates that on a medium-term basis (90 days), ETH is in an uptrend, but on a long-term basis (1 year) is still below previous levels — suitable for a swing trading approach.
📌 Conclusion:
🟢 Bullish Signals (short term):
Strong price increase
Increasing volume
MACD and MA support the uptrend
⚠️ Beware of:
Strong resistance at 2,835–2,890
RSI is not visible in the screenshot, so need to check if it is overbought
📍Recommendation (not financial advice):
If already in position: consider trailing stop to lock in profit. If not yet entered: wait for a small correction (pullback) to the 2,750–2,770 area as a potential entry.
Watch level 2,834 as critical resistance — if it breaks out, the uptrend could continue strongly.
