$ETH /USDT

Examining the 4-hour chart for Binance, we see a market exhibiting signs of recovery after a sharp decline. The price moved from a high of 3,547.55 to a low of 3,240.00, currently trading at 3,403.05.

Key Moving Averages (MAs) highlight critical support and resistance levels. The 7-period MA is at 3,383.50, and the 25-period MA is at 3,388.53. The 99-period MA, representing a long-term trend, is at 3,486.05. The positioning of the shorter MAs below the 99-period MA signals an ongoing bearish trend, despite the recent upward movement.

Volume analysis shows a peak at 32,639.9821 (MA(5)) followed by a decline to the current level of 36,553.7641. The recent increase in volume suggests growing interest, which could support further upward movement if sustained.

Immediate support is found at 3,240.00. Holding above this level is crucial for maintaining the bullish sentiment. Resistance is around the 25-period MA at 3,388.53. A breakout above this resistance, especially with increasing volume, could indicate a stronger bullish reversal.

In summary, the market shows potential for a bullish reversal if it maintains support above 3,240.00 and breaks through the resistance at 3,388.53 with substantial volume. Traders should watch these key levels and volume trends closely for cues on the market's next move.#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide #BinanceTournament #Megadrop