$ETH Tonight target?
To identify a potential target for tonight, let's analyze the chart and levels further:
1. Current Price Behavior:
ETH is consolidating between EMA(7) and EMA(25).
A breakout above the EMA(99) ($3,132.74) would suggest bullish momentum, while rejection at this level could trigger a downside move.
2. Resistance Levels:
Immediate resistance is at $3,132.74 (EMA99).
Stronger resistance lies around $3,230.78.
3. Support Levels:
Immediate support is at $3,014.50 (recent low).
If this breaks, the next support lies at $2,998.67.
4. Momentum Indicators:
Stochastic RSI is recovering from oversold conditions, signaling a potential short-term bounce.
RSI is neutral at 50, meaning it could swing either way.
Tonight's Possible Scenarios:
Bullish Case:
If ETH breaks above $3,132, the short-term target could be $3,200–$3,230.
Bearish Case:
If ETH breaks below $3,014, it could test $2,998–$2,950.
Monitor the price action around $3,132 and $3,014 for direction. A breakout with high volume will confirm the move. Would you like insights on trading strategies for these levels?
