#etherreum đ¨đ¨đ¨ ETH 1-HOUR âł Timeframe đ¨đ¨$ETH
Support and Resistance Levels:
âźď¸âźď¸ Analyzing the Latest Patterns and Potential Moves âźď¸âźď¸
Current Analysis:
⢠Resistance Levels:
⢠Primary Resistance: $3613.9 - This level is acting as strong resistance with a trend strength of 5.38 and an angle of 6°, indicating a 3.18% distance.
⢠Support Levels:
⢠Primary Support: $3401.87 - This level is providing strong support with a trend strength of 3.75 and an angle of 4°, indicating a 2.87% distance.
⢠Secondary Support: $3472.39 - This level also acts as support with a trend strength of 3.13 and an angle of 16°, indicating a 0.86% distance.
⢠Current Price Level: $3,502.23 - ETH is trading between the support levels and resistance, facing significant pressure.
Latest Patterns:
⢠Trend Analysis:
⢠The trend indicators for 50 bars show a sideways trend with an angle of -7°.
⢠For 100, 150, and 200 bars, the trend varies between sideways with slight inclinations and declines, indicating mixed signals.
⢠Identified Patterns:
⢠Anti-Butterfly, Anti-Crab, Anti-Shark: These patterns suggest potential reversal zones and areas of consolidation.
⢠ABC Pattern: This indicates potential corrective waves in the current trend.
Potential Moves:
⢠Elliott Wave Theory:
⢠According to Elliott wave theory, ETH might be in a corrective phase. Monitoring ETHâs movement towards the support and resistance zones is crucial.
⢠Price Projection:
⢠ETH may attempt to test the resistance level at $3613.9 if it gains bullish momentum. However, the overall mixed trend suggests potential for sideways movement or a slight decline if it fails to break this resistance.
Important Note: Always remember the importance of capital management and avoiding greed.
ETH Analysis (ETHUSDT), 1-Hour Timeframe â°
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