$ETH /USDT

ETH/USDT Spot and Resistance Analysis

Ethereum (ETH) against Tether (USDT) on Binance is displaying noteworthy activity on the 4-hour chart, currently trading at $3,057.17. After hitting a recent low of $2,810.00, ETH/USDT has shown signs of recovery.

Key resistance levels to monitor are:

1. $3,224.58: The nearest resistance level, which has previously halted upward movements.

2. $3,444.78: A more significant resistance level, representing a major previous high.

The moving averages (MA) provide further insights:

- MA(7): 3,037.12

- MA(25): 3,006.98

- MA(99): 3,273.05

Currently, ETH/USDT is trading above both the 7 and 25-period moving averages, suggesting a short-term bullish trend. However, it remains below the 99-period moving average, indicating potential long-term bearish pressure.

Volume analysis shows an increase in recent trading activity, pointing towards growing interest and potential volatility.

Support levels include:

- $3,004.38: A minor support level.

- $2,784.18: A stronger support level, tested multiple times in the past.

Overall, ETH/USDT appears to be in a consolidation phase. If it can break through the immediate resistance at $3,224.58 with strong volume, it could continue its upward trajectory. Traders should keep an eye on volume and moving averages for confirmation of trend direction.

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