$ETH here’s a brief technical analysis for ETH/USDT:
1. Current Price: 3,128.40 with a 1.33% drop.
2. Moving Averages:
MA(7): 3,108.54 (short-term price is near this level, indicating possible consolidation).
MA(25): 3,107.51 (aligned with MA(7), showing support at this level).
MA(99): 2,936.19 (long-term support is well below the current price).
3. RSI (Relative Strength Index):
RSI(6): 53.91 (neutral, but approaching overbought territory, suggesting possible sideways movement or minor correction).
4. MACD:
The histogram is near zero, indicating weak momentum.
The DIF line is below the DEA line, but the gap is narrow, potentially signaling bullish movement if a breakout occurs.
5. OBV (On-Balance Volume):
A declining OBV indicates stronger selling pressure.
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24-Hour Strategy
1. Buy Entry: If the price breaks above 3,170 with high volume, aim for a short-term target at 3,205 and a second target at 3,250.
Stop Loss: Below 3,100 (to protect against further declines).
2. Sell Entry: If the price falls below 3,100, aim for a target at 3,050, with a second target at 2,990.
Stop Loss: Above 3,170 (to avoid losses in case of a breakout).
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Note: Always monitor trading volume, as valid breakouts are typically accompanied by high volume. Also, watch market sentiment to support your trading decisions.