$ETH /USDT Technical Analysis & Trade Signal๐ฅ๐ฅ๐๐๐
Current Market Overview:
Price: $3,842.85 (-3.98%)
24h High: $4,031.38
24h Low: $3,814.40
Support Level: $3,814.40
Resistance Level: $3,871.57 (SAR)
Technical Indicators:
1. SAR (Stop and Reverse): $3,871.57 (acting as resistance).
2. Momentum: Bearish, with consistent lower highs.
3. RSI (Relative Strength Index): Likely near oversold levels (<40), suggesting a possible reversal or short-term bounce.
4. Volume Analysis: High volume ($1.86B USDT), indicating significant activity but leaning towards selling pressure.
Trade Signal:
Strategy: Short-term buy on dip for a scalp trade or sell near resistance in case of rejection.
Entry Zone (Buy): $3,820โ$3,835
Stop-Loss: $3,800 (below key support).
๐ฏ Target Levels:
1. Target 1: $3,871 (SAR resistance and psychological level).
2. Target 2: $3,905 (minor resistance).
3. Target 3: $3,950 (strong resistance before retesting $4,000).
Trade Momentum:
Short-term Momentum: Bearish, but possible bounce from $3,814 support.
Medium-term Momentum: Consolidation if price reclaims $3,871.
Pro Tip:
Watch for RSI divergence or a breakout above $3,871 for further bullish confirmation.
If ETH fails to hold $3,800, expect further downside towards $3,750.