ETH/USDT is currently trading in overbought territory on the 8-hour timeframe. The Stochastic Oscillator, MACD, and RSI indicators are suggesting a potential correction in the short term.
However, the 5 and 10-period moving averages are below the price, indicating that the uptrend is still intact.
The price is likely to pull back towards the support levels of 2,373.56, 2,290.00, and 2,200.00. However, if it breaks above the resistance level of 2,482.32, the uptrend is expected to continue.
If the price turns down from 2,457.26, buying at 2,402.01 could increase the chances of taking profits if the uptrend continues.
⚠️Traders should closely monitor market developments and implement risk management strategies.
