$ETH Everything you need to know👇👇
Prediction
1. Price Trend:
The price is currently at $3,613.32, down 2.38%.
The candle shows rejection at $3,760 (24h high), indicating selling pressure at that level.
2. Moving Averages (MA):
The price is above the MA(25) ($3,313.73) and MA(99) ($2,707.80), showing a medium-term uptrend.
However, it's close to MA(7) ($3,596.22), a short-term support level.
3. Volume:
The volume shows moderate participation. A decrease in volume after the recent uptrend could indicate weakening buying momentum.
4. RSI (Relative Strength Index):
RSI(6) is at 61, suggesting that the market is in a mildly bullish zone but nearing overbought conditions.
Probability Analysis:
Upward Chance (Bullish):
If the price holds above MA(7) and reclaims the $3,700 zone, the chances of an upward move increase.
Resistance to watch: $3,760. Breaking this could lead to a stronger uptrend.
Estimated chance: ~55%-60%, depending on volume and broader market sentiment.
Downward Chance (Bearish):
If the price breaks below MA(7), the next significant support is around $3,313 (MA25).
A close below this could trigger a pullback toward the $3,000 zone.
Estimated chance: ~40%-45%.
Conclusion:
Keep an eye on $3,596 (MA7) as a key level. Strong buying momentum above it favors bulls, while a break below suggests further downside.
