Indicators and Chart Patterns
Moving Average (MA 200):
The current price is trading above the 200-period MA (value: $1.530), signaling a medium-term bullish trend.
A breakout above this moving average suggests strong buyer momentum.
Relative Strength Index (RSI):
RSI is at 64.63, indicating slightly overbought conditions but not yet in extreme territory.
This level suggests bullish momentum, though traders should be cautious of a potential pullback if RSI approaches the overbought zone of 70-80.
Moving Average Convergence Divergence (MACD):
MACD histogram shows a positive reading (+0.009), reflecting bullish momentum.
The MACD and Signal lines indicate an intact upward trend, though the momentum is slightly moderating.
Volume:
Trading volume is at 15.677 million, which represents a moderate level of interest. However, the absence of a significant volume spike may limit the strength of the current move.
Support and Resistance Zones
Strong Resistance:
The key resistance level is identified around $2.00 - $2.10.
A clear break above this level could trigger the next upward move toward $2.50.
Key Support:
The critical support lies around $1.60 - $1.70.
This range serves as a cushion in case of a short-term correction, coinciding with the 200-period MA.
ETHFI/USDT exhibits moderate bullish momentum, supported by its position above the 200-period MA and positive MACD readings. While the RSI indicates strong momentum, it is approaching overbought levels, suggesting a potential for short-term consolidation or a minor pullback. Watch for a breakout above $2.00 to confirm the continuation of the uptrend, while maintaining caution for a potential correction toward the $1.60-$1.70 support zone.