ETH/USDT Analysis: Will the Uptrend Continue?

The price of Ethereum (ETH) against USDT has shown a significant recovery in the past few hours, currently trading at $2,665.04, which represents an increase of +1.70% in the last 24 hours. The high reached in this period was $2,689.00, while the low was located at $2,590.50, which suggests that the market is starting to regain some ground.

Technical Analysis

On the 8-hour chart, the price of ETH is trading above the 25-period moving average ($2,616.61) and the 7-period moving average ($2,632.21), which indicates a possible start of a short-term uptrend. However, the 99-period moving average ($2,871.04) is still above the current price, suggesting that the overall trend remains bearish. It is important to watch if ETH manages to break above the $2,689 resistance to confirm a stronger trend reversal.

Considerations for Traders

For traders, the focus should be on keeping an eye on key support and resistance levels. A break above $2,689 could open the way to higher levels, while a drop below $2,590 could signal a deeper correction. Proper risk management remains crucial in this volatile scenario.

Conclusion

Ethereum is showing signs of recovery, but it is important to stay alert to technical indicators and market signals. Stay tuned for more Binance Square trading analysis and strategies. #ETH🔥🔥🔥🔥 #AnálisisDeMercado #TradingSignals #CryptoSuccess