$ETH 1-Hour Chart: Resistance at $3,154 in Focus as Momentum Shifts

The latest technical analysis of the 1-hour chart reveals that the ETH is currently consolidating around key support and resistance levels. With price action hovering near $3,126.96, traders are closely monitoring for potential bullish reversals or further downside momentum.

Resistance is being tested at $3,129.62, and a breakout could lead to targets of $3,154.78, $3,180.76, and $3,195.34. Conversely, traders should be cautious of short opportunities near these resistance zones, especially if bearish confirmations arise.

The mixed signals from EMA indicators and the MACD histogram suggest a careful approach. As the RSI climbs from a bearish zone, there’s potential for bullish momentum, but traders should remain vigilant for false signals.

For those interested in trading, consider long entries near $3,126.96 or $3,117.36, targeting $3,154.78 and beyond. Short positions may be viable near $3,154.78 or $3,180.76 if rejection patterns emerge. #Ethereum #ETHUSDT #ETH