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#ETH#
๐ ETH/USDT Market Analysis & Future Outlook
ETH has shown a powerful bullish push in the last 24 hours, currently trading around $3,825.40 with a +5.40% increase. The 24-hour high reached $3,863.30, marking a strong recovery from the recent low of $3,621.20.
๐ Technical Indicators Recap:
MA5 ($3,833.18), MA10 ($3,782.41), and MA30 ($3,697.22) are all trending upwards, suggesting a bullish continuation.
MACD: Shows increasing bullish momentum as DIF continues to rise above the DEA line.
RSI (6/12/24): Hovering in the 67-72 range, indicating strong momentum but close to overboughtโwatch for signs of short-term correction.
KDJ: The %K line is at 83.48, still above %D and %J, confirming bullish pressure.
WR (Williams %R) values are also showing strong upward movement, reinforcing momentum.
๐ Future Prediction Based on Timeframes
โฑ๏ธ 1-Hour Chart Outlook:
If current momentum sustains, ETH could re-test the $3,863 resistance. A breakout may open a path toward $3,900+, but RSI nearing overbought means some correction may occur around $3,800.
โฑ๏ธ 4-Hour Chart View:
Supports at $3,760 and $3,700 are key. Holding above these levels confirms strength. MACD is wide and climbing, suggesting this move has room to continue over the next 12โ18 hours.
โฑ๏ธ Daily Trend Forecast:
ETH has bounced from the $3,350 support level and broken short-term resistances with ease. If this trend stays intact, ETH could aim for $4,000 within a few days. However, keep an eye on macroeconomic triggers or BTC's volatility which could shift the sentiment quickly.
โ Conclusion:
ETH is in a bullish breakout phase, and short-term indicators are mostly aligned with further upside. However, traders should watch for pullbacks and use stop-loss strategies to manage risk, especially around the $3,800-$3,900 range.
๐ Personal opinion, not financial advice. DYOR.
#ETH#