$ETH is trading near 2,270 USDT, two days after the Oct 30 flush to 2,174. Since then every 4H dip has stopped a little higher: 2,208, then 2,234, now 2,254.
• Trend: still under a falling trendline from the Oct 22 high (2,526 > 2,391 > 2,379), which sits around 2,330 now. Price is below the 4H EMA50 (~2,313) and EMA200 (~2,426)
• Key support: 2,234-2,240 (Oct 31 lows), then 2,208, then 2,174 (Oct 30 low)
• Key resistance: 2,282-2,300, the floor that held from Oct 24 to Oct 29 and broke on Oct 30. Above it, EMA50 at 2,313 and the trendline near 2,330
• RSI(14) ~45, recovering from the low 30s but not above 50 yet
• Bullish: a 4H close above 2,300 turns the old floor back into support and puts 2,330 on the table. Bearish: rejection at 2,282-2,300 and a close under 2,234 sends price back toward 2,208 and 2,174
The higher lows are real, but this is a slow grind into resistance. I want to see 2,300 reclaimed before calling the drop finished.
Not financial advice.
#ETH #Ethereum #TechnicalAnalysis #CryptoMarket #Binance
• Trend: still under a falling trendline from the Oct 22 high (2,526 > 2,391 > 2,379), which sits around 2,330 now. Price is below the 4H EMA50 (~2,313) and EMA200 (~2,426)
• Key support: 2,234-2,240 (Oct 31 lows), then 2,208, then 2,174 (Oct 30 low)
• Key resistance: 2,282-2,300, the floor that held from Oct 24 to Oct 29 and broke on Oct 30. Above it, EMA50 at 2,313 and the trendline near 2,330
• RSI(14) ~45, recovering from the low 30s but not above 50 yet
• Bullish: a 4H close above 2,300 turns the old floor back into support and puts 2,330 on the table. Bearish: rejection at 2,282-2,300 and a close under 2,234 sends price back toward 2,208 and 2,174
The higher lows are real, but this is a slow grind into resistance. I want to see 2,300 reclaimed before calling the drop finished.
Not financial advice.
#ETH #Ethereum #TechnicalAnalysis #CryptoMarket #Binance
