#ETHOnTheRise . Current Price Range:
The current price is near $3,610.44, with a slight dip from the 24h high of $3,620.20.
The price is under some negative pressure with a -2.46% change in the last 24 hours.
2. Support and Resistance Levels:
Support: The first key support level is around $3,610.00. If the price continues to dip, this area may act as a strong buy zone.
Resistance: The immediate resistance is at $3,620.00, with a secondary resistance level near $3,760.00.
3. Trend Analysis:
The 15m and 1h charts show slight downward momentum, indicating a short-term pullback.
The 4h and 1D charts show consolidation after the recent dip, suggesting that the market is looking for direction.
4. Moving Averages:
The 50-period MA is slightly above the current price, which could act as resistance.
The 200-period MA is still below, showing that the long-term trend is bullish.
5. RSI (Relative Strength Index):
RSI is at 45, suggesting the asset is neither overbought nor oversold, but leaning towards a neutral stance. It indicates potential for a reversal if the price approaches support levels.
Trade Signals:
1. Bullish Signal:
If ETH moves above $3,620 and holds, we can expect a rally toward $3,760.
Entry Point: $3,620 (Breakout above resistance)
Stop-Loss: $3,600 (Just below recent low)
Target Levels:
Target 1: $3,680 (Intermediate resistance)
Target 2: $3,730 (Resistance near the 4-hour chart)
Target 3: $3,760 (Higher resistance)
2. Bearish Signal:
If the price breaks below $3,610, we may see a further decline.
Entry Point: $3,610 (Breakdown below support)
Stop-Loss: $3,640 (Above the recent high)
Target Levels:
Target 1: $3,580 (First support level)
Target 2: $3,550 (Mid-term support)
Target 3: $3,500 (Strong psychological support)
Trade Momentum:
Short-Term Momentum: Bearish in the 15m and 1h timeframes, but neutral to bullish in the 4h and 1D charts.
