$ETH โ 1H Candle Analysis
From your 1-hour chart:
๐ข Current price: ~2,407 USDT
Support: 2,369โ2,390
Resistance: 2,430, then around 2,476
MA(7): 2,395 and MA(25): 2,401 โ price is slightly above both.
MA(99): 2,476 โ price is still below the longer-term average.
RSI(6): 61.69 โ buying momentum has improved, but it isn't yet in the 70+ zone.
๐ฏ๏ธ Candle reading
The recent candles show buyers attempting a recovery after the drop toward 2,369. The latest green candle is positive, but the 2,430 area needs to be broken and closed above for stronger confirmation.
Simple structure:
2,476 ๐ด Resistance
2,430 ๐ด Resistance
2,407 ๐ข Current
2,390 ๐ก Short-term support
2,369 ๐ข Stronger support
So, for learning purposes, watch the candle close around 2,430 and the reaction around 2,369โ2,390 rather than judging the direction from one candle alone.
#btc90k #ETH
From your 1-hour chart:
๐ข Current price: ~2,407 USDT
Support: 2,369โ2,390
Resistance: 2,430, then around 2,476
MA(7): 2,395 and MA(25): 2,401 โ price is slightly above both.
MA(99): 2,476 โ price is still below the longer-term average.
RSI(6): 61.69 โ buying momentum has improved, but it isn't yet in the 70+ zone.
๐ฏ๏ธ Candle reading
The recent candles show buyers attempting a recovery after the drop toward 2,369. The latest green candle is positive, but the 2,430 area needs to be broken and closed above for stronger confirmation.
Simple structure:
2,476 ๐ด Resistance
2,430 ๐ด Resistance
2,407 ๐ข Current
2,390 ๐ก Short-term support
2,369 ๐ข Stronger support
So, for learning purposes, watch the candle close around 2,430 and the reaction around 2,369โ2,390 rather than judging the direction from one candle alone.
#btc90k #ETH
