ETH/USDT CHART ANALIYSIS !!
Ethereum (ETH) against Tether (USDT) on Binance shows notable price action within a descending channel. The price is currently at $3,112.96, showing a slight increase of +1.51%.
ETH has been trading within a descending channel since early April.
The price bounces off the lower boundary and moves towards the upper boundary.
The price found strong support in the $2,900 - $3,000 range.
The 200MA (green line) acts as significant resistance above the current price. Additionally, the upper boundary of the descending channel serves as another resistance level.
A horizontal supply zone around $3,100 to $3,200 is creating selling pressure.
The price was rejected at this level previously and is now attempting to break through again.
The 200-day moving average (200MA) is currently above the price and acts as resistance.
A breakout above the 200MA would be a bullish signal.
Volume:
Although not shown in this chart, volume is crucial in confirming breakouts or breakdowns. High volume on a breakout above the 200MA would strengthen the bullish case.
Scenarios to Watch:
A breakout above the 200MA and the upper boundary of the descending channel would confirm a bullish trend.
The next resistance levels to watch would be around $3,400 and $3,800.
A breakdown below the support zone and the lower boundary of the descending channel would indicate further downside.
Key support levels below the channel would be around $2,700 and $2,400.
The price could also consolidate within the current range of $2,900 to $3,200, forming a base before a decisive move.
Indicators and Signals:
Monitoring RSI can help identify overbought or oversold conditions.
MACD (Moving Average Convergence Divergence): Crossovers in MACD can signal potential trend reversals.
ETH is rebounding from the support trendline and testing the 200MA Watch for a breakout above the 200MA or a breakdown below the support trendline.
$3,200 (supply zone), $3,400, $3,800.
$2,900, $2,700, $2,400.
Stay alert for high-volume moves to confirm breakouts or breakdowns. This will provide a clearer direction for the next significant price action.
Feel free to ask for a more detailed analysis or additional charts!
Remember:-This is not a piece of financial advice. Stay tuned to us for further updates and analysis. Thank you!
ETH has been trading within a descending channel since early April.
The price bounces off the lower boundary and moves towards the upper boundary.
The price found strong support in the $2,900 - $3,000 range.
The 200MA (green line) acts as significant resistance above the current price. Additionally, the upper boundary of the descending channel serves as another resistance level.
A horizontal supply zone around $3,100 to $3,200 is creating selling pressure.
The price was rejected at this level previously and is now attempting to break through again.
The 200-day moving average (200MA) is currently above the price and acts as resistance.
A breakout above the 200MA would be a bullish signal.
Volume:
Although not shown in this chart, volume is crucial in confirming breakouts or breakdowns. High volume on a breakout above the 200MA would strengthen the bullish case.
Scenarios to Watch:
A breakout above the 200MA and the upper boundary of the descending channel would confirm a bullish trend.
The next resistance levels to watch would be around $3,400 and $3,800.
A breakdown below the support zone and the lower boundary of the descending channel would indicate further downside.
Key support levels below the channel would be around $2,700 and $2,400.
The price could also consolidate within the current range of $2,900 to $3,200, forming a base before a decisive move.
Indicators and Signals:
Monitoring RSI can help identify overbought or oversold conditions.
MACD (Moving Average Convergence Divergence): Crossovers in MACD can signal potential trend reversals.
ETH is rebounding from the support trendline and testing the 200MA Watch for a breakout above the 200MA or a breakdown below the support trendline.
$3,200 (supply zone), $3,400, $3,800.
$2,900, $2,700, $2,400.
Stay alert for high-volume moves to confirm breakouts or breakdowns. This will provide a clearer direction for the next significant price action.
Feel free to ask for a more detailed analysis or additional charts!
Remember:-This is not a piece of financial advice. Stay tuned to us for further updates and analysis. Thank you!
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.