ETH/USDT Trading Strategy
1. Current Price: 3858.02 USDT
2. Period: 5 Days
3. Trading Direction: Short Position
Technical Analysis and Strategy Logic:
Monthly Chart: RSI shows 68.87, close to overbought area, price gradually approaching the previous high of 4093.92, with potential pullback pressure.
Weekly Chart: RSI is 73.49, has entered the overbought area, while the price has risen for several consecutive weeks, momentum is weakening, and trading volume has not been able to sustain an increase.
3-Day Chart: Short-term RSI is 65.60, showing a tendency for pullback, MACD green bars are starting to enlarge, indicating that bearish strength is gradually increasing.
Daily Chart: Short-term moving average (MA5) is turning down, MA10 support level is around 3740, if it breaks below this, it may trigger a larger decline.
Trading Strategy:
Entry Price: 3850.00 USDT
Take Profit Price: 3700.00 USDT
Stop Loss Price: 3950.00 USDT
Position Size: 15%
Leverage: 2x
Strategy Logic:
RSI is close to the overbought area, price's upward momentum is weakening, both weekly and daily charts indicate a potential short-term correction.
Set the take profit price at 3700 USDT, close to the MA10 support area.
Set the stop loss above 3950 USDT to avoid unexpected upward risks.
Click below to trade the pair. $ETH