Ethereum Price Analysis!!
Ethereum looking strong right now on the 15-minute chart. The price is at 2460.17, which is up almost 2% today. After falling to a low of 2384, the price has bounced back up above its moving averages. The 7-day moving average at 2455 and the 25-day moving average at 2445 are now helping the price stay high. Also, the Parabolic SAR dots are now below the candles, which means buyers are in control right now.
But be careful if you are doing short-term trading. The RSI is very high at 74.64. This means the price is overbought and moved up too fast. So, a small price drop or moving sideways is very possible right now. The first big resistance is at the 24-hour high of 2478. If buyers break above 2478, the next target is 2500. On the lower side, the first strong support is at 2445, and then at 2414.
Here is the simple trading plan for Binance Square. If you want to buy, wait for a 15-minute candle to close above 2478. Then you can target 2500. If you want to sell, wait for the price to fail at 2478 and drop below 2445. Then you can target 2415. Because the RSI is overbought, do not buy right now at the top. Wait for a small price drop to the moving averages for a safer entry. Always use a stop loss to protect your money.
Thankyou
#etherreum $ETH
Ethereum looking strong right now on the 15-minute chart. The price is at 2460.17, which is up almost 2% today. After falling to a low of 2384, the price has bounced back up above its moving averages. The 7-day moving average at 2455 and the 25-day moving average at 2445 are now helping the price stay high. Also, the Parabolic SAR dots are now below the candles, which means buyers are in control right now.
But be careful if you are doing short-term trading. The RSI is very high at 74.64. This means the price is overbought and moved up too fast. So, a small price drop or moving sideways is very possible right now. The first big resistance is at the 24-hour high of 2478. If buyers break above 2478, the next target is 2500. On the lower side, the first strong support is at 2445, and then at 2414.
Here is the simple trading plan for Binance Square. If you want to buy, wait for a 15-minute candle to close above 2478. Then you can target 2500. If you want to sell, wait for the price to fail at 2478 and drop below 2445. Then you can target 2415. Because the RSI is overbought, do not buy right now at the top. Wait for a small price drop to the moving averages for a safer entry. Always use a stop loss to protect your money.
Thankyou
#etherreum $ETH