ETHUSDT TECHNICAL ANALYSIS NEXT MOVE POSSIBLE CHECK CAPTAIN
This chart represents an analysis of Ethereum (ETH) against Tether (USDT) on a 1-hour timeframe from Binance. Here’s a breakdown of the key elements:
1. Price Action & Trendlines
The chart shows previous ascending channels (marked in blue) that led to a breakdown.
The price recently dropped sharply after breaking below a key resistance zone.
2. Support & Resistance Zones
The red zone around $2,621.45 indicates a resistance level where price may struggle to break through.
The green zone around $2,724.32 suggests a target level if price breaks resistance.
3. Fibonacci & Technical Indicators
Concentric circles in red and blue suggest Fibonacci-based confluence levels.
The price has reached a potential support level (marked with the lightning bolt icon), suggesting a possible reversal.
4. Projected Movement
The black arrow suggests a bullish rebound from $2,423.12, targeting $2,621.45 first.
If price breaks the resistance, it could move toward $2,724.32.
Conclusion
The chart predicts a potential bullish recovery, but confirmation is needed with price action at $2,423. If ETH holds this support, it may rally toward $2,621 and higher. However, if it fails, further downside is possible.
Would you like me to analyze this further or suggest a trading approach?
1. Price Action & Trendlines
The chart shows previous ascending channels (marked in blue) that led to a breakdown.
The price recently dropped sharply after breaking below a key resistance zone.
2. Support & Resistance Zones
The red zone around $2,621.45 indicates a resistance level where price may struggle to break through.
The green zone around $2,724.32 suggests a target level if price breaks resistance.
3. Fibonacci & Technical Indicators
Concentric circles in red and blue suggest Fibonacci-based confluence levels.
The price has reached a potential support level (marked with the lightning bolt icon), suggesting a possible reversal.
4. Projected Movement
The black arrow suggests a bullish rebound from $2,423.12, targeting $2,621.45 first.
If price breaks the resistance, it could move toward $2,724.32.
Conclusion
The chart predicts a potential bullish recovery, but confirmation is needed with price action at $2,423. If ETH holds this support, it may rally toward $2,621 and higher. However, if it fails, further downside is possible.
Would you like me to analyze this further or suggest a trading approach?
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.