$ETHFI Is the Rebound Sustainable?

Market Snapshot:

• Current Price: $1.590 (-1.79%)

• 24H High: $1.670

• 24H Low: $1.511

• Volume: 16.04M ETHFI

Technical Analysis:

1. Support Zone Bounce:

• ETHFI touched a low of $1.511 and rebounded sharply, signaling strong buying interest at lower levels.

• The current price is attempting to recover above the MA(7): $1.554, a short-term momentum indicator.

2. Moving Averages Overview:

• MA(7): $1.554 (acting as immediate support).

• MA(25): $1.593 (near resistance).

• MA(99): $1.564 (long-term support tested successfully).

The convergence of moving averages indicates a critical juncture for ETHFI.

3. Volume Analysis:

• Increased trading activity during the rebound hints at potential bullish sentiment. Watch for sustained volume to confirm an upward trend.

4. Key Levels to Watch:

• Resistance: $1.630 (previous breakdown level), $1.670 (24H high).

• Support: $1.560 (near MA levels), $1.510 (recent low).

Verdict:

ETHFI is showing signs of recovery after testing support levels. If it breaks above $1.630 with strong volume, the bulls may push toward $1.70+. However, failure to sustain above $1.560 could invite further downside. Stay sharp! 💹

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