$ETH
It's been a long time since the ETH orders changed to green, brothers. The first scenario of reclaiming 3160 has been achieved. However, the upward momentum is a bit hot; let's see the probability of a cooling adjustment first.
1. 4H FRAME – OVERHEAT, OVERBOUGHT, OVEREXTENDED
4H is currently showing:
✔ RSI(6) = 90 - extremely strong overheat zone
RSI 90 is a level only seen in 4H when:
Continuous pump without rest
Almost no selling pressure - but also no new buys - easy to trigger short-term profit-taking, however, reaching 90 in the H4 frame indicates strong rebound power
✔ 4H has touched the upper Bollinger Band (Upper Band)
Upper Boll = 3.240
Price is approaching and slightly poking through → This is often a short-term sell-off point by market makers, not a reversal, but to:
- Reset RSI
- Absorb more liquidity
- Allow retail FOMO into one last green wave before a slight drop.
2. D1 FRAME – Exceeded Middle Boll but currently touching the first resistance
Yesterday's daily frame beautifully reclaimed the middle Boll D1, but:
✔ Upper Boll D1 is right at 3240–3260
Current price is stuck at 3200–3240 - hitting exactly the first resistance.
✔ RSI(6) D1 ~ 68
Not too high yet but approaching the hot zone - suitable for a pause of 1–2 candles.
Conclusion: D1 supports a slight adjustment to create a setup to cling to the middle before continuing.
3. W1 FRAME – EMA99 HAS SUPPORTED, CURRENTLY REBOUNDING UP
The weekly frame is very important:
✔ Price has bounced from the weekly EMA99 (3010)
This is a strong bottom - just as we analyzed in previous days.
✔ But this week is touching EMA7 – EMA21 above
These two lines create a "double resistance of the downtrend"
✔ Weekly RSI is only 39
The uptrend has not been confirmed -> needs one more test.
-> The weekly frame also signals that the price needs to breathe a little before rising to a higher zone. However, the weekly frame is currently the worst frame.
It's been a long time since the ETH orders changed to green, brothers. The first scenario of reclaiming 3160 has been achieved. However, the upward momentum is a bit hot; let's see the probability of a cooling adjustment first.
1. 4H FRAME – OVERHEAT, OVERBOUGHT, OVEREXTENDED
4H is currently showing:
✔ RSI(6) = 90 - extremely strong overheat zone
RSI 90 is a level only seen in 4H when:
Continuous pump without rest
Almost no selling pressure - but also no new buys - easy to trigger short-term profit-taking, however, reaching 90 in the H4 frame indicates strong rebound power
✔ 4H has touched the upper Bollinger Band (Upper Band)
Upper Boll = 3.240
Price is approaching and slightly poking through → This is often a short-term sell-off point by market makers, not a reversal, but to:
- Reset RSI
- Absorb more liquidity
- Allow retail FOMO into one last green wave before a slight drop.
2. D1 FRAME – Exceeded Middle Boll but currently touching the first resistance
Yesterday's daily frame beautifully reclaimed the middle Boll D1, but:
✔ Upper Boll D1 is right at 3240–3260
Current price is stuck at 3200–3240 - hitting exactly the first resistance.
✔ RSI(6) D1 ~ 68
Not too high yet but approaching the hot zone - suitable for a pause of 1–2 candles.
Conclusion: D1 supports a slight adjustment to create a setup to cling to the middle before continuing.
3. W1 FRAME – EMA99 HAS SUPPORTED, CURRENTLY REBOUNDING UP
The weekly frame is very important:
✔ Price has bounced from the weekly EMA99 (3010)
This is a strong bottom - just as we analyzed in previous days.
✔ But this week is touching EMA7 – EMA21 above
These two lines create a "double resistance of the downtrend"
✔ Weekly RSI is only 39
The uptrend has not been confirmed -> needs one more test.
-> The weekly frame also signals that the price needs to breathe a little before rising to a higher zone. However, the weekly frame is currently the worst frame.
