1. Main Trend:
The short-term trend is currently sideways/slightly bullish. After a bearish phase, ETH has recovered above the 200-period moving average (green line), but struggles to decisively break the resistance around 2,620–2,640 USDT. The 50-period moving average (red) is close and often crossing the 200, indicating stability/uncertainty in the trend.
2. Key Levels:
Supports: 2,594 USDT (MA 200), 2,589 USDT (BB), 2,588 USDT
Resistances: 2,622 USDT (BB + recent local high), 2,655 USDT
Breakdown: A clear hourly close below 2,590 USDT could open the door to declines towards 2,550/2,520 USDT.
Breakout: Only a strong close above 2,622–2,655 USDT would confirm a new bullish momentum.
3. Technical Indicators:
RSI (45.73): Neutral, near oversold territory but without clear divergences (potential for rebound but risk of further weakness).
MACD: Still negative, indecisive signal with MACD line below Signal and both flat: no dominant momentum.
Bollinger Bands: Price is near the mid-band, typical of lateral phases. Bandwidth is low, suggesting the possibility of an imminent volatility spike.
Trading Signal
Asset: ETHUSDT Perpetual (1h)
Direction: Short
Entry: 2,592 USDT
(below the dynamic MA200 support and near the lower BB edge, confirming intra-hour weakness)
Stop-loss: 2,622 USDT
(above the central BB line and first resistance level)
Take-profit:
TP1: 2,555 USDT (previous lows and static support)
TP2: 2,520 USDT (next key historic level)
Confidence: Medium
Additional Notes:
Consolidation phase; volatility likely in the coming hours.
If price breaks and closes strongly above 2,622, bearish scenario is canceled; consider switching to long.
Macro: watch for BTC volatility and possible knock-on effects on ETH.
Pattern: no strong reversal pattern; situation dominated by uncertainty.
Reasoning:
The price action shows indecision and fluctuations within a tight range, but repeated tests of support without a strong rebound suggest underlying weakness. Failure to reclaim 2,622 strengthens the case for a short-term short, with a tight stop to protect against potential “fake breakouts.”
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.