ETHFI/USDT Maintains Bullish Momentum, Eyeing 1.800 Resistance
$ETHFI

Current Price: ETHFI/USDT is trading at 1.671, with a slight increase of +0.06%.
200-Period Moving Average (MA): The price is above the 200-period MA at 1.388, indicating a bullish medium-term trend.
VWAP (Volume Weighted Average Price): VWAP is at 1.676, reflecting the price holding steady near recent volume averages.

Key Indicators:

RSI (Relative Strength Index):
The RSI is at 65.24, which is approaching the overbought zone but still in neutral territory. This indicates some upward momentum but suggests that a short-term pullback could occur soon if it reaches overbought levels.

MACD (Moving Average Convergence Divergence):

MACD Line: 0.011Signal Line: 0.044Histogram: 0.033

The MACD has crossed into bullish territory, with the MACD line above the signal line, indicating positive momentum. The histogram reflects increasing momentum, supporting the current uptrend.

Support and Resistance:

Resistance Levels:

Immediate Resistance: 1.800, which could serve as a barrier in the short term.Major Resistance: 2.000, representing a psychological level and a potential target if the uptrend continues.

Support Levels:

Immediate Support: 1.600, a level that has acted as support in recent pullbacks.Further Support: 1.500, which aligns closely with the 200-period MA and could serve as a stronger support in case of a deeper correction.

Bullish Scenario: If the price can sustain its upward momentum, a test of the 1.800 resistance is likely, with potential for further gains towards 2.000.Bearish Scenario: A failure to break above 1.800 could lead to a pullback towards the 1.600 support or even down to the 1.500 level if selling pressure increases.

Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always perform your own research before making trading decisions.

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