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$ETH Technical Analysis June 04, 2025: PRICE STANDS AT $2,616.29 WITH NEUTRAL OUTLOOK ⚖️
📊 Market Insight
• Current Price: 2,616.29 USDT
• Moving Averages (MAs) indicate a mixed trend.
• Volume has decreased to 4,073,755, suggesting reduced trading activity compared to recent highs.
• MACD shows a bearish signal.
• RSI values are in neutral territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
2,655.38
2,664.40 (next significant resistance)
2,700.00 (psychological resistance)
🔽 Support Levels:
2,575.00
2,532.12 (next significant support)
2,475.00 (psychological support)
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $2,655.38
☑️ Entry Point: $2,660.00 (enter if price breaks above 2,655.38 with bullish momentum confirmation)
🎯 Price Target:
TP1: $2,664.40
TP2: $2,700.00
🛑 Stop Loss: $2,645.00 (below the resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 2,655.38, an increase in volume, RSI(6) rising above 60, and a MACD bullish crossover with DIF moving above DEA.
🐻 Bearish Trade Setup: Breakdown below $2,575.00
☑️ Entry Point: $2,570.00 (enter if price breaks below 2,575.00 with bearish momentum confirmation)
🎯 Price Target:
TP1: $2,532.12
TP2: $2,475.00
🛑 Stop Loss (SL): $2,580.00 (above the current support)
⚠️ Confirmation: Watch for a strong bearish candle close below 2,575.00, sustained high volume, RSI(6) falling below 40, and the MACD showing a continued bearish trend with DIF dropping further below DEA.
📌 Suggestion to Open Positions Today:
The RSI suggests balanced momentum, indicating no immediate strong trend. Traders should wait for a clear breakout above $2,655.38 for a bullish setup or a breakdown below $2,575.00 for a bearish move. Given the current market conditions, monitor volume closely and use tight stop losses to manage risk effectively.
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