๐ Global Trend:
The chart shows an overall upward trend starting from the lows of around $2,111. The maximum was reached at $4,107, followed by a correction. Currently, the price is consolidating within the $3,400โ$3,500 range.
๐ Bollinger Bands:
The current ETH price is near the middle Bollinger Bands line (MB: $3,489.12), indicating a consolidation phase.
The upper Bollinger Bands boundary (UP: $3,903.06) serves as a potential resistance level.
The lower Bollinger Bands boundary (DN: $3,075.18) represents a key support level.
๐ Volumes:
Trading activity remains moderate, which may indicate market participant uncertainty.
๐ ๏ธ Key Levels:
Support: $3,075 โ the lower Bollinger Bands boundary and previous consolidation area.
Resistance: $3,900โ$4,100 โ the local high and upper Bollinger Bands boundary.
๐ Moving Averages (MA):
MA(5): $3,506.82 โ the price is slightly below the short-term moving average, indicating a possible pullback phase.
MA(10): $3,449.91 โ a neutral signal pointing to weak short-term momentum.
๐ฎ Possible Scenarios:
Bullish Scenario: Breaking through the $3,900 resistance level may trigger a rally toward $4,100 and higher.
Bearish Scenario: Dropping below $3,075 could lead to a deeper decline toward $2,750.
๐ Recommendation:
Monitor trading volumes and price behavior near key levels. Consolidation above $3,500 may confirm the continuation of the upward trend.