#ETHBreaks3700 🩵💙🔷️$ETH /USDT 1H Technical Analysis

Price Overview:

Current Price: $3,797.24 (+1.27%)

24H High: $3,811.00

24H Low: $3,709.39

➡️Technical Indicators:

1. Bollinger Bands (20, 2):

Upper Band: $3,792.62

Middle Band (SMA20): $3,752.30

Lower Band: $3,711.98

Interpretation:

Price is currently trading above the upper band, indicating a potential overbought condition.

This may suggest a short-term pullback or consolidation is possible unless strong volume confirms a breakout.

2. RSI (6):

Current RSI: 74.96

Interpretation:

RSI >70 = Overbought territory.

This suggests bullish momentum but also signals risk of reversal or cooling off.

3. Moving Averages:

MA (5): 12,290.31 (volume-based MA)

MA (10): 13,073.23

Interpretation:

Shorter MA (5) is below the longer MA (10), but since these are volume-based MAs, not price MAs, they’re less relevant for price action momentum.

4. Volume:

Recent Volume: Rising on green candles.

Interpretation:

Increasing volume with price rise = confirmation of bullish momentum.

Healthy breakout behavior, if sustained.

Chart Pattern Observations:

ETH has broken above recent resistance (~$3,775) and is testing local highs near $3,811.

The candles show strong bullish body formations, indicating buyer dominance.

📈 Bullish Bias (short-term), but with caution:

Overbought RSI and price outside upper Bollinger Band could result in a pullback or sideways movement.

Next Resistance: $3,811 (if broken, $3,850–$3,900 range opens)

Support Levels: $3,752 (middle band), then $3,711

Trade Idea (Not Financial Advice):

If Holding: Consider trailing stop near $3,752

If Looking to Enter: Wait for pullback toward mid-Bollinger ($3,752) or breakout confirmation above $3,811 with volume.