$ETH is coiling at ~2,329 USDT. Three days of lower highs pressing into the same floor - something has to give soon.
• Trend: lower highs since Oct 23 (2,418 > 2,365 > 2,345) on a falling trendline, price still below the 4H EMA50 (~2,381) and EMA200 (~2,483)
• Key support: 2,282-2,295 (Oct 24 wick low plus two Oct 26 tests). Below it, the next shelf is 2,220-2,255 (Aug 19-20 range)
• Key resistance: the trendline and Oct 26-27 highs at 2,335-2,345, then 2,362-2,372 and the EMA50 near 2,381
• RSI(14) ~40, momentum soft but recovering from yesterday's dip
• Bullish: a 4H close above 2,345 breaks the triangle and opens 2,362-2,381. Bearish: a close below 2,282 targets 2,220-2,255
Bottom line: a descending triangle on the 4H. The break of 2,282 or 2,345 decides the next leg.
Not financial advice.
#Ethereum #ETH #TechnicalAnalysis #CryptoMarket #Binance
• Trend: lower highs since Oct 23 (2,418 > 2,365 > 2,345) on a falling trendline, price still below the 4H EMA50 (~2,381) and EMA200 (~2,483)
• Key support: 2,282-2,295 (Oct 24 wick low plus two Oct 26 tests). Below it, the next shelf is 2,220-2,255 (Aug 19-20 range)
• Key resistance: the trendline and Oct 26-27 highs at 2,335-2,345, then 2,362-2,372 and the EMA50 near 2,381
• RSI(14) ~40, momentum soft but recovering from yesterday's dip
• Bullish: a 4H close above 2,345 breaks the triangle and opens 2,362-2,381. Bearish: a close below 2,282 targets 2,220-2,255
Bottom line: a descending triangle on the 4H. The break of 2,282 or 2,345 decides the next leg.
Not financial advice.
#Ethereum #ETH #TechnicalAnalysis #CryptoMarket #Binance
