Ethereum ($ETH) has been on fire, gaining almost +9% in just 24 hours. The price shot up from around $4,204 to a high of $4,668, and is now consolidating near $4,647. This rally pushed ETH far above its EMA levels, showing strong bullish momentum โ but indicators are flashing overbought signals, hinting at a possible short-term pullback before the next leg higher.
๐ Technical Outlook
EMA Alignment: EMA(7) = $4,437 > EMA(25) = $4,331 > EMA(99) = $4,303 โ Still strongly bullish
RSI (6): 88.5 โ Extremely overbought
StochRSI: 82.8 โ High risk of near-term cooling
MACD: Positive โ Uptrend intact
๐ Key Levels
Immediate Support: $4,580 โ $4,600
Major Support: $4,430 โ $4,450
Resistance Zone: $4,670 โ $4,700
๐ก Trading Plan
Donโt FOMO at the top โ better to wait for dips.
Buy Zones:
$4,580โ$4,600 (first support)
$4,430โ$4,450 (deeper pullback)
Targets:
Short-term: $4,700+
Mid-term: $4,800 โ $4,850
Stop Loss: $4,390
๐ My Take
ETH looks bullish, but the overbought conditions suggest we may see sideways action or a small pullback before the next breakout. If support holds, Ethereum could be gearing up for a run toward $4,800 and beyond.
โ ๏ธ Not financial advice. Always DYOR before trading. Crypto markets remain highly volatile.
