ETH Analysis

1. Price and Moving Averages (MA):

Current price: $3,358.36, down 0.66% in the last 24 hours.

MA(7): $3,378.03

MA(25): $3,614.73

MA(99): $3,060.27

The price is below the MA(7) and MA(25), indicating a short-term and medium-term bearish trend. However, it's still above the MA(99), suggesting a long-term uptrend remains intact.

2. Volume:

Recent volume appears relatively low compared to previous peaks, suggesting less market activity and potentially lower conviction behind recent moves.

3. MACD:

MACD (yellow line): -31.73

Signal line (pink line): -34.50

The MACD histogram is slightly improving, but both the MACD and signal line remain negative, indicating continued bearish momentum. A crossover or further narrowing could signal a potential trend reversal.

4. RSI (Relative Strength Index):

RSI(6): 38.62

The RSI is below 50, indicating bearish momentum but not yet in the oversold region (below 30), suggesting that there might still be room for further downside.

5. Support and Resistance Levels:

Resistance: Around $3,553.57 (previous high and near the MA(25)).

Support: $3,305.00 (24-hour low and recent price floor) and $3,060.27 (MA(99)).

Analysis:

The chart suggests a bearish sentiment in the short to medium term, as the price is below key short-term moving averages and MACD is still negative.

However, the long-term trend remains bullish as the price holds above the MA(99).

A breakout above $3,553.57 could signal a recovery, while a drop below $3,305.00 or $3,060.27 could lead to further downside.

If you're trading using this chart:

Consider waiting for clearer confirmation of trend reversal (e.g., MACD crossover or price moving above MA(25)).

Set stop-losses near the $3,305 support level to limit downside risk.

Disclaimer: This analysis is for informational and educational purposes only and should not be considered as financial or investment advice.