🔍 Overall market structure
• Ethereum is moving in a descending triangle/converging channel (yellow trend lines).
• The upper trend line acts as strong resistance (~$4,000-$4,150).
• The lower trend line (rising) provides key support around ~$3,730-$3,750.
⸻
📊 Key levels
Resistances:
• $3,875 – local resistance, where the price rebounded several times.
• $3,990 – another resistance resulting from the yellow trend line.
• $4,143 – main resistance in the breakout zone of the formation (potential target after breaking the downtrend).
Support:
• $3,808 – short-term support.
• $3,733 – important level within the formation (lower yellow trendline).
• $3,637 – strong support that should not be broken while maintaining bullish sentiment.
⸻
📈 Indicators
MACD:
• MACD and signal lines are close to each other - no clear momentum.
• Histogram decreases → possible short-term weakness or consolidation.
RSI:
• RSI indicator around 45–50 → neutral, with no clear advantage of buyers or sellers.
• No divergence, but potential for a rebound if RSI drops to ~40 and rebounds.
• Ethereum is moving in a descending triangle/converging channel (yellow trend lines).
• The upper trend line acts as strong resistance (~$4,000-$4,150).
• The lower trend line (rising) provides key support around ~$3,730-$3,750.
⸻
📊 Key levels
Resistances:
• $3,875 – local resistance, where the price rebounded several times.
• $3,990 – another resistance resulting from the yellow trend line.
• $4,143 – main resistance in the breakout zone of the formation (potential target after breaking the downtrend).
Support:
• $3,808 – short-term support.
• $3,733 – important level within the formation (lower yellow trendline).
• $3,637 – strong support that should not be broken while maintaining bullish sentiment.
⸻
📈 Indicators
MACD:
• MACD and signal lines are close to each other - no clear momentum.
• Histogram decreases → possible short-term weakness or consolidation.
RSI:
• RSI indicator around 45–50 → neutral, with no clear advantage of buyers or sellers.
• No divergence, but potential for a rebound if RSI drops to ~40 and rebounds.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.