🚀 ETH/USDT Bounces Back! Is the Bull Run Starting? 📈

Analysis:

The ETH/USDT chart on the 1-minute timeframe shows a slight recovery with a +4.90% price increase, currently trading at $3,447.37. Here’s a quick breakdown:

1. EMA Levels:

• The price is hovering near EMA(7) and EMA(25), indicating a potential breakout if sustained above.

• Key support lies at EMA(99) around $3,440, which is holding well.

2. Stochastic RSI:

• At 46.59, it suggests neutral momentum with room for further upside if buying pressure continues.

3. RSI Levels:

• RSI(6) at 51.55 and RSI(24) at 49.67 indicate balanced momentum, leaning towards bullish.

4. Volume Trends:

• Moderate volume supports the price rebound, but higher volume is needed for a stronger breakout.

Prediction:

• Short-term: If the price sustains above $3,450, it could test the resistance at $3,466 - $3,470.

• Medium-term: If rejected, look for support around $3,440 - $3,430 before another upward attempt.

Pro Tip:

• Watch for increasing volume and RSI crossing above 60 for confirmation of bullish momentum! 🌟$ETH