๐น Chart Observations:
1. Price Level: ETH is at $4,385.50, recovering from a dip after hitting the recent high at $4,465.64.
2. Support Zone: Around $4,290 โ $4,306 (recent bounce point).
3. Resistance Zone: Around $4,435 โ $4,465 (last rejection level).
4. RSI (6): Currently 61.46, meaning ETH is in bullish momentum but not yet overbought (overbought >70).
5. Moving Averages:
MA(5) > MA(10) โ short-term bullish crossover.
Price trading above both MAs โ bullish continuation bias.
6. Volume: Spike during the last push up, then decreased while price pulled back and recovered โ healthy correction, no major dump signals.
๐น Possible Scenarios:
โ Bullish Case (Higher Probability Now)
If ETH holds above $4,350 โ $4,360 support, it can retest $4,435 โ $4,465 resistance.
Breakout above $4,465 could push to $4,500 โ $4,540 next.
โ ๏ธ Bearish Case (If rejection happens)
Failure to hold $4,350 may send ETH back to $4,300 โ $4,290.
Losing $4,290 could open $4,250 levels.
๐น Trading Plan:
Long Entry: On dip around $4,350 โ $4,360, target $4,440 โ $4,465, SL below $4,290.
Short Entry: If price rejects hard at $4,465, short towards $4,320 โ $4,300, SL above $4,500.
---
๐ Overall: ETH is bullish short-term, momentum is recovering after a pullback, but key test is whether it breaks $4,465 or rejects again.
#CPI_DATA
1. Price Level: ETH is at $4,385.50, recovering from a dip after hitting the recent high at $4,465.64.
2. Support Zone: Around $4,290 โ $4,306 (recent bounce point).
3. Resistance Zone: Around $4,435 โ $4,465 (last rejection level).
4. RSI (6): Currently 61.46, meaning ETH is in bullish momentum but not yet overbought (overbought >70).
5. Moving Averages:
MA(5) > MA(10) โ short-term bullish crossover.
Price trading above both MAs โ bullish continuation bias.
6. Volume: Spike during the last push up, then decreased while price pulled back and recovered โ healthy correction, no major dump signals.
๐น Possible Scenarios:
โ Bullish Case (Higher Probability Now)
If ETH holds above $4,350 โ $4,360 support, it can retest $4,435 โ $4,465 resistance.
Breakout above $4,465 could push to $4,500 โ $4,540 next.
โ ๏ธ Bearish Case (If rejection happens)
Failure to hold $4,350 may send ETH back to $4,300 โ $4,290.
Losing $4,290 could open $4,250 levels.
๐น Trading Plan:
Long Entry: On dip around $4,350 โ $4,360, target $4,440 โ $4,465, SL below $4,290.
Short Entry: If price rejects hard at $4,465, short towards $4,320 โ $4,300, SL above $4,500.
---
๐ Overall: ETH is bullish short-term, momentum is recovering after a pullback, but key test is whether it breaks $4,465 or rejects again.
#CPI_DATA
