$ETH Potential Scenarios
ETH/USDT is showing early signs of a bullish reversal, with strong support levels and short-term MAs trending upwards. Key resistance levels at $3,101.00 and $3,159.20 need to be breached to confirm a continued upward movement. Monitoring volume and additional indicators like RSI would provide further confirmation of momentum strength.
Bullish Scenario: If ETH breaks above the resistance at $3,101.00 and stays above the 99-period MA, it could retest the 24-hour high of $3,159.20 and potentially push higher.
Bearish Scenario: A failure to hold above the 99-period MA at $3,090.49, followed by a drop below the 25-period and 7-period MAs, could indicate a bearish reversal, with a possible retest of support around $3,029.41.
Support and Resistance Levels
Immediate Support: Around $3,029.41, which represents the 24-hour low and has served as a strong support level.
Key Support: The 99-period MA at $3,090.49 could act as a key support if ETH can hold above this level.
Immediate Resistance: Around $3,101.00, which was a recent high and could be the first resistance level.
Major Resistance: The 24-hour high of $3,159.20 could act as a strong resistance if the price continues upward.
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