ETH/USD is currently in a consolidation phase on the 1-hour chart, trading within a range between $1,602.5 (resistance) and $1,595 (support). The price has shown multiple tests of these levels, with recent long and short signals indicating potential breakout opportunities.
Technical Indicators:
This analysis uses the "Supertrend with EMA and RSI @tradingbauhaus" indicator:
• Supertrend: The price is oscillating around the Supertrend line (green/red), with recent signals flipping between bullish (long) and bearish (short).
• EMA (10, 50): The price is near the 50-period EMA, acting as dynamic support/resistance. A breakout above or below could confirm the next move.
• RSI (14): Not visible on the chart, but typically used in this indicator to gauge overbought/oversold conditions.
Key Levels and Signals:
• Resistance: $1,602.5 (recent high, marked with a short signal at -6).
• Support: $1,595 (recent low, marked with a long signal at +6).
• Entry (Long): A confirmed break above $1,602.5 could signal a long entry, with a recent long signal at $1,610.
• Entry (Short): A break below $1,595 could confirm a short entry, as seen with the recent short signal at $1,602.5.
• Stop Loss (SL): For longs, place below $1,595; for shorts, place above $1,602.5.
• Take Profit (TP): For longs, target $1,620; for shorts, target $1,580.
Conclusion:
ETH/USD is at a critical juncture, with the price testing a tight range. A breakout above $1,602.5 could signal bullish momentum, while a drop below $1,595 might favor bears. Watch for confirmation from the Supertrend and EMA alignment. What are your thoughts, traders?
Technical Indicators:
This analysis uses the "Supertrend with EMA and RSI @tradingbauhaus" indicator:
• Supertrend: The price is oscillating around the Supertrend line (green/red), with recent signals flipping between bullish (long) and bearish (short).
• EMA (10, 50): The price is near the 50-period EMA, acting as dynamic support/resistance. A breakout above or below could confirm the next move.
• RSI (14): Not visible on the chart, but typically used in this indicator to gauge overbought/oversold conditions.
Key Levels and Signals:
• Resistance: $1,602.5 (recent high, marked with a short signal at -6).
• Support: $1,595 (recent low, marked with a long signal at +6).
• Entry (Long): A confirmed break above $1,602.5 could signal a long entry, with a recent long signal at $1,610.
• Entry (Short): A break below $1,595 could confirm a short entry, as seen with the recent short signal at $1,602.5.
• Stop Loss (SL): For longs, place below $1,595; for shorts, place above $1,602.5.
• Take Profit (TP): For longs, target $1,620; for shorts, target $1,580.
Conclusion:
ETH/USD is at a critical juncture, with the price testing a tight range. A breakout above $1,602.5 could signal bullish momentum, while a drop below $1,595 might favor bears. Watch for confirmation from the Supertrend and EMA alignment. What are your thoughts, traders?
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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.
Join my trading community! 📈
🔹 Discord: discord.gg/7Fwru9gqbS
🔹 Discord: discord.gg/7Fwru9gqbS
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.