๐ $ETH Market Analysis:
๐ Market Recap:
Looking back at last weekโs chart analysis, the price retested support around 1950 and did not break through. Going forward, the outlook remains bullish, as the market repeatedly tested resistance near 1950 but failed to break effectively.
The market is currently under pressure and pulling back (traceable to last weekโs chart analysis).
๐ Market Analysis:
A gap has appeared below the weekly level this week. On the daily chart, a gap also formed simultaneously, indicating that within the week the market has a need for a pullback, suggesting a technical correction.
๐ Pullback Support:
Gap support is around 1870;
and bullish volume has been shrinking. Indicators are approaching the overbought zone, which suggests a slight pullback and adjustment trend in the short term.
Overall, the upward structure has not been broken. For the week, first look for a pullback, then a rebound.
๐ Key Levels:
๐ข Near-Term Support Below:
1900-1870
As long as the pullback holds, stay firmly bullish afterward.
โ ๏ธ If Broken, Watch:
1850-1760
๐ Market Recap:
Looking back at last weekโs chart analysis, the price retested support around 1950 and did not break through. Going forward, the outlook remains bullish, as the market repeatedly tested resistance near 1950 but failed to break effectively.
The market is currently under pressure and pulling back (traceable to last weekโs chart analysis).
๐ Market Analysis:
A gap has appeared below the weekly level this week. On the daily chart, a gap also formed simultaneously, indicating that within the week the market has a need for a pullback, suggesting a technical correction.
๐ Pullback Support:
Gap support is around 1870;
and bullish volume has been shrinking. Indicators are approaching the overbought zone, which suggests a slight pullback and adjustment trend in the short term.
Overall, the upward structure has not been broken. For the week, first look for a pullback, then a rebound.
๐ Key Levels:
๐ข Near-Term Support Below:
1900-1870
As long as the pullback holds, stay firmly bullish afterward.
โ ๏ธ If Broken, Watch:
1850-1760