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#ETH/USDT WEEKLY CHART ANALIYSIS !The ETH/USDT weekly update shows a bearish breakdown below a key support level, with the price currently at $2,502.09. Ethereum is approaching an ascending trendline, a crucial support level. Failure to hold this level could cause the price to drop to around $2,000. Conversely, a bounce off this trendline could face resistance at the previous support level of $2,800. Traders should keep an eye on volume and RSI signals to gauge the strength of the current downtrend and potential reversal points. Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
by CryptoSanders9563
Ethereum's Revival A Prime Opportunity for a Strong Rebound Analyzing the current market conditions for ETH/USDT, there are several technical indicators suggesting that Ethereum might be poised for a significant upward movement from its current price of $2,444. The recent sharp decline in price has brought Ethereum to a crucial support level, which has historically acted as a strong foundation for upward reversals. Firstly, the Relative Strength Index (RSI) has dropped below the 30 level due to the recent sell-off, indicating that Ethereum is currently in oversold territory. This suggests that the selling pressure may have been overextended, providing a potential opportunity for buyers to enter the market and capitalize on the discounted price. The Moving Average Convergence Divergence (MACD) is also starting to show signs of a bullish crossover. The MACD line is approaching the signal line from below, which often precedes a bullish trend reversal. This potential crossover, coupled with the oversold RSI, strengthens the case for a price rebound. Additionally, the Bollinger Bands have expanded significantly during the recent price drop, reflecting increased volatility. However, the price has begun to stabilize around the lower band, suggesting that the downward momentum is waning and a reversal could be on the horizon. Furthermore, the trading volume has spiked dramatically during the sell-off, indicating heightened market interest and participation. Historically, high volume during price declines can precede reversals as it suggests that new buyers are stepping in to absorb the selling pressure. The Fibonacci retracement levels also align with this analysis, as the price is currently hovering around the 61.8% retracement level from the previous rally. This level is often considered a strong support area where price reversals are likely to occur. From a fundamental perspective, Ethereum continues to see strong network activity and development progress, further supporting the potential for a rebound. The recent pullback may have been driven by broader market sentiment rather than any Ethereum-specific issues, providing an attractive entry point for long-term investors. Given these factors, it seems like an opportune moment to consider buying ETH/USDT in anticipation of a medium-term price increase. The combination of oversold conditions, technical support levels, and strong fundamental backing suggests that Ethereum is well-positioned to recover from its recent dip and potentially target new highs in the coming weeks and months.
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by SafeCryptoSignals
ETH ForecastTrend Channels and Correction: There are two distinct descending trend channels visible on the chart. Currently, the price is near the lower boundary of these channels and might make an upward correction. This correction could aim towards the resistance levels marked above. Fibonacci Levels: The price appears to have touched the 1.618 Fibonacci extension at the 2,914.76 level. A reaction from this level is likely, and the price could move upwards to test the resistance levels. Support and Resistance Levels: Several important support and resistance levels are drawn on the chart: Resistance Levels: 3,125.86, 3,232.67, 3,306.00, 3,390.57, and 3,581.27. Support Level: 2,914.76. RSI (Relative Strength Index): The RSI indicator is close to the oversold region. This suggests that the price might soon experience an upward recovery. MACD (Moving Average Convergence Divergence): The MACD indicator might be signaling a potential upward reversal. Conclusion: The Ethereum price could potentially rebound from the lower boundary of the descending channel and initiate an upward movement. The first target for this upward movement could be the 3,125.86 resistance level. If it can break this level, it may test the 3,232.67 and 3,306.00 resistance levels subsequently. However, market conditions and the overall trend should be considered, and risk management is essential.
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by alemicihan
Buy and hold thanks me later $THETA Buy and hold thanks me later MYX:THETA also futre trader can trade but swing and mange ur risk Trading during the accumulation phase in the Wyckoff method involves identifying potential accumulation zones and entering positions based on signs of accumulation by smart money. Here's a basic guide on how to trade during this phase: 1. **Understand Accumulation Phase**: In the Wyckoff method, accumulation is the phase where smart money (large institutional investors) starts accumulating shares while prices are low. This phase typically occurs after a prolonged downtrend. 2. **Identify Accumulation Zones**: Look for areas on the price chart where the price is range-bound or shows signs of consolidation after a downtrend. These zones often exhibit decreased volatility and relatively low trading volumes. 3. **Analyze Volume**: Pay close attention to volume patterns within the accumulation zone. Look for decreasing volume during the downward move and increasing volume as the price starts to stabilize or move sideways. This suggests that smart money is accumulating shares. 4. **Study Price Action**: Analyze price action within the accumulation zone. Look for signs of absorption where the price remains stable despite selling pressure. Higher lows and lower highs can indicate that buying pressure is building up. 5. **Confirm with Indicators**: Use technical indicators like moving averages, relative strength index (RSI), or accumulation/distribution indicators to confirm the strength of accumulation. These indicators can provide additional insight into the underlying buying pressure. 6. **Wait for Confirmation**: Wait for confirmation before entering a trade. Look for a breakout above the accumulation zone accompanied by a surge in volume. This confirms that the accumulation phase is ending and an uptrend may begin. 7. **Set Stop Losses**: Place stop-loss orders below the accumulation zone to manage risk. If the price breaks below the accumulation zone, it could indicate a false breakout or a continuation of the downtrend. 8. **Monitor the Trade**: Once you enter a trade, monitor it closely for signs of continued accumulation or distribution. Adjust your position or take profits accordingly based on changing market conditions. 9. **Consider Multiple Timeframes**: Analyze multiple timeframes to get a clearer picture of the overall market trend and the strength of accumulation. Higher timeframes can help confirm the validity of accumulation patterns observed on shorter timeframes. 10. **Practice Patience and Discipline**: Trading during the accumulation phase requires patience and discipline. It's essential to wait for clear signals and confirmation before entering a trade, and to stick to your trading plan once you're in a position. Remember that trading involves risks, and it's important to conduct thorough research and practice risk management to improve your chances of success. Additionally, studying historical Wyckoff accumulation patterns and observing real-time market behavior can help refine your trading skills over time.
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by Crypto-Adda_Official
ETH/USDT 1DAY CHART ANALIYSIS !!The chart shows ETH/USDT within a descending channel, highlighted by the purple lines. There is a crucial support area between $2,800 and $3,000, represented by the orange and yellow shaded areas, indicating potential areas for buying. ETH/USDT has recently bounced off the lower boundary of the descending channel, indicating that this support level still holds. The upper boundary of the descending channel, along with the horizontal resistance around $3,600, forms a key resistance area that ETH needs to break to confirm a bullish reversal. The green line (possibly a moving average) around $3,050 currently acts as a dynamic support level. Recent price action indicates a double-bottom pattern around the $2,900-$3,000 range, suggesting a potential bullish reversal if confirmed. If ETH/USDT can sustain above the $3,000 support, the next target will be the upper boundary of the descending channel and the horizontal resistance at $3,600. A break below the $2,800-$3,000 support zone could lead to further declines towards the next significant support levels around $2,300-$2,500. This analysis is based on a visual interpretation of the chart. Consider using additional technical indicators and keeping an eye on market news and sentiment for a more detailed and accurate analysis. Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!
by CryptoSanders9563
#ETH/USDT#ETH After the approval of Ethereum ETFs, the current correction is expected Ethereum price has been moving in an upward trend on the four-hour frame since the beginning of July The price has now touched the rising trend and produced a reversal candle on a 4-hour frame Expected to rise on targets Entry price 3177 First target 3315 Second goal 3424 Third goal 3546 This is supported by the bearish saturation on the RSI indicator The rise also supports stability above the Moving Average 100 And stability is above the current trend The pattern is canceled if it closes 4 hours below the upward trend in orange
BINANCE:ETHUSDLong
by CryptoAnalystSignal