$ETH đ ETH/USDT Price Action Analysis đ
đ Timeframe: 1D (Daily)
đ Current Price: $2,641.21
âš Ethereum is showing strong momentum but is also facing key technical levels that traders should watch closely. Letâs break it down:
đą Support Zones (Buyersâ Defense)
These are price levels where buyers have previously stepped in, making the price bounce upward:
$2,591 â Aligned with the 7-day moving average (MA7), a crucial short-term support.
$2,420 â Near the 25-day moving average (MA25), a stronger zone indicating bullish bias if held.
$2,270 â $2,005 â Psychological support and former consolidation range.
đ If ETH dips toward these levels, it may find fresh buying interest.
đŽ Resistance Zones (Sellersâ Pressure)
These are levels where price struggles to break above due to selling pressure:
$2,738 â Recent peak, marked as a local top where bulls previously got rejected.
$2,798 â Historical resistance seen on the chart, likely to challenge upward moves.
â ïž A clean breakout above $2,738â2,800 could trigger the next bullish leg! đ
đ MACD Insight
The MACD line is below the signal line (-15.73), hinting at weakening bullish momentum.
Traders may wait for a bullish crossover before re-entering for momentum trades.
đ§ Summary
ETH is consolidating just above critical short-term support with bulls defending the $2,600 zone. A break above $2,738 could open the door for $2,800+, while a dip below $2,591 may shift sentiment slightly bearish in the short term.
đč Trade wisely and watch the key levels!