ETH/USDT - 1D
💰 Price: 3,701 USDT
📊 Volume: 480.9K ETH (solid volume, supporting the current movement).
📌 Indicators:
- RSI (14): 82.32 → 🚨 Extremely overbought, high risk of correction.
- MACD: Bullish crossover, but histogram reduced → positive momentum but losing strength.
- BBands: Price near the upper band (3,941), potential rejection zone.
- SMA50: Price well above (2,188), strong but extended bullish trend.
- Ichimoku: Bullish cloud, but Tenkan (2,995) far from the price → distant support.
- VPVR: Highest volume at ~3,000-3,200, key area if there is a correction.
📊 Analysis:
- Trend: 📈 Extreme bullish, but with RSI and MFI at critical levels (92.01).
- Volatility: Moderate (ATR 159.76), but with potential spikes due to overbought conditions.
- Patterns: TD Sequential at 15/9 (bullish exhaustion), classic reversal signal.
- Supports: 3,664 (recent low), 3,500 (psychological), 3,200 (VPVR).
- Resistances: 3,798 (daily high), 3,941 (upper band BBands).
🎯 Strategy:
- Scenario 1 (Correction): Wait for a pullback to 3,500-3,600 with decreasing volume to buy. TP at 3,800 and SL at 3,450.
- Scenario 2 (Unlikely breakout): If it breaks 3,941 with massive volume, enter with TP at 4,200 and SL at 3,800.
🔍 Observations:
- 🔥 Parabolic SAR and ADX confirm trend, but RSI/MFI are alarming.
- 📉 TD Sequential 15/9 + RSI 82 = Strong sell signal.
- 💡 If it corrects, look for entries near 3,200-3,500 (SMA50 and VPVR).
Cryptocurrency trading involves high risk. (DYOR)
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