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Technicalindicators

TATACHEM near TRENDLINE BREAKOUTWe saw 30% Correction from the All Time High price & The price facing Downward trendline resistance and now very near to breakout level of trendline. If price breaks the level 990 and closes than price will head towards the target of 1015/1040+ & If price closes above the 1055 than we can see targets of 1100/1200+. The Support zone between the 940--920. Price Breakdown below the 920 and closes than target will be 900/870+ Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad.
NSE:TATACHEMLong
by Jha_Nidhi
1
#NIFTY WEEKLY MARKET FORECASTThe price perfectly fulfills my last idea. Strong reversal seen in the price which tends to lead the price towards upside and #Nifty made high of 17638 and hit the target of 17555/17600. As mentioned before that #NIFTY Trading in the Descending Parallel Channel and now near the upper side of the Channel which can act as Resistance for the price and if price breaks this channel and sustain above it than price can move towards upside and targets will be 17888/18055/18200 can be seen in next coming Trading sessions. And If price not able to breaks the upper channel and drop towards downside than we can see down move. Below 17400--17350 only weakness seen in the price.17200--17200 level can act as the support for the price as they previously acted as resistance and if market will drop down than this level can perform as the strong support zone for the price.
NSE:NIFTYLong
by Jha_Nidhi
Upward Trend with Potential Support and Resistance LevelsBitcoin's current price is $28040, and it has experienced a positive change of +0.87% in the past 24 hours. The RSI at 55 suggests that the asset is neither overbought nor oversold, indicating a neutral trend. The Fibonacci retracement levels are essential technical analysis tools used to identify potential support and resistance levels. In this case, the 1-hour timeframe suggests that the key Fibonacci retracement levels for Bitcoin are 27768 (0 level), 27974 (0.5 level), and 28181 (1 level). The current price is above the 0.5 Fibonacci retracement level, indicating that the bulls are in control of the market. The Bollinger bands represent volatility levels and are useful for identifying potential breakouts or trends. The 1-hour timeframe shows the upper Bollinger band at 28125, the lower Bollinger band at 27796, and the middle Bollinger band at 27961. The price is currently above the middle Bollinger band, which indicates that the market is experiencing an upward trend. The volume oscillator at -12.90% indicates a decrease in trading volume, which could potentially lead to price consolidation. However, the MACD at +31 suggests that the bulls are still in control of the market. The Stochastic oscillator at 67.40 is above the oversold level of 20, indicating that the market is experiencing a bullish momentum. Additionally, the EMA 50 at 27996 is acting as a potential support level for Bitcoin. The On-Balance Volume (OBV) at 1.195M suggests that there has been an influx of buyers in the market, which could potentially lead to a bullish trend. The 24h high at 28155 and the 24h low at 27790 indicate a potential price range, with the current price at the upper end of this range. Support Levels: 1-hour timeframe 0.5 Fibonacci: 27974 1-hour timeframe middle Bollinger band: 27961 EMA 50: 27996 24h Low: 27790 Resistance Levels: 1-hour timeframe upper Bollinger band: 28125 1-hour timeframe 1 Fibonacci: 28181 24h High: 28155 If the price of Bitcoin breaks above the 1-hour timeframe upper Bollinger band, it could signal a potential bullish scenario, and the next resistance level to watch would be the 1-hour timeframe 1 Fibonacci at 28181. If the price continues to climb beyond that level, the next significant resistance level would be the 24h high at 28155. On the other hand, if the price of Bitcoin falls below the 1-hour timeframe middle Bollinger band, it could signal a potentially bearish scenario, and the next support level to watch would be the EMA 50 at 27996. If the price continues to decline, the next significant support levels would be the 1-hour timeframe 0.5 Fibonacci at 27974 and the 24h low at 27790. In terms of bullish and bearish scenarios and targets, the bullish scenario would be confirmed if the price of Bitcoin breaks above the 1-hour timeframe upper Bollinger band and continues to climb towards the 1-hour timeframe 1 Fibonacci and 24h high. In this scenario, the potential targets could be 28300 and 28500. Alternatively, the bearish scenario would be confirmed if the price of Bitcoin falls below the 1-hour timeframe middle Bollinger band and continues to decline towards the EMA 50 and potentially the 1-hour timeframe 0.5 Fibonacci and 24h low. In this scenario, the potential targets could be 27700 and 27500.
by MonoCoinSignal
27
Ethereum's Short-term Neutrality Masks Medium-term BullishnessEthereum is currently trading at TSE:1870 level, near the middle Bollinger band of the 1-hour timeframe. Over the past 24 hours, it has seen a marginal increase of 1.19%, and the Fibonacci levels suggest support at 1841 and resistance at 1892 and 1943. The Bollinger bands indicate that the current price is close to the middle band, which suggests a neutral market sentiment in the short-term. The MACD line is currently at +2.08, indicating a bullish trend in the short-term. However, the stochastic oscillator is at 71.65, which is above the overbought zone. This suggests that there is a possibility of a price correction in the near future. The volume oscillator is at -11.78%, indicating a decrease in trading volume in the short-term, which may suggest a lack of momentum in the market. In the medium-term, the EMA 50 is currently at 1867, which is slightly above the current price. This may indicate a bullish bias. The OBV is currently at 3.951M, which indicates an increase in buying pressure. Based on the Fibonacci levels, the support levels for Ethereum are at 1841 and 1810, while the resistance levels are at 1892 and 1943. If Ethereum breaks above the Fibonacci resistance level of 1892 and sustains the upward momentum, it may reach the next resistance level at 1943. If it manages to break above this level, the next targets could be at 2000 and 2200. On the other hand, if Ethereum fails to hold the Fibonacci support level of 1841, it may see a bearish trend. In this case, the next support level could be at 1810, and if it breaks below this, the next target could be at 1700. Overall, while the short-term indicators suggest a mixed sentiment, the medium-term indicators suggest a bullish bias. It's important to keep an eye on both the support and resistance levels and monitor the market closely to make informed trading decisions.
by MonoCoinSignal
17
Potential Support and Resistance Levels Amidst Volatile MarketBitcoin's current price is $27,959, which represents a decrease of 2.26% in the past 24 hours. The Relative Strength Index (RSI) is at 44.5, indicating a neutral stance for the cryptocurrency's market momentum. The 4-hour timeframe shows three Fibonacci levels, with the current price below the 0.5 Fibonacci level at $27,984 and approaching the 1 Fibonacci level at $27,195. The upper Bollinger band is at $28,564, while the lower Bollinger band is at $27,706, and the middle Bollinger band is at $28,135. The volume oscillator is at -25%, while the Moving Average Convergence Divergence (MACD) indicator is at -35. Additionally, the stochastic oscillator is at 18. The Exponential Moving Average (EMA) 50 is at $28,064, which is a technical indicator that suggests a potential support level. The On-Balance Volume (OBV) is at 2.733M, indicating a possible bullish sentiment. The 24h high is at $28,750, while the 24h low is at $27,800. Based on the technical indicators, Bitcoin's price is below the 0.5 Fibonacci level, indicating a potential bearish sentiment. The MACD is negative, indicating possible selling pressure. However, the OBV is positive, indicating a possible buying pressure. The RSI is neutral, suggesting a lack of clear momentum. The EMA 50 is a potential support level, which could prevent the price from falling further. The stochastic oscillator is low, indicating a possible oversold condition. In conclusion, while the recent news suggests a potential bullish sentiment for Bitcoin in the long term, the current technical indicators suggest a possible bearish sentiment in the short term. However, as the cryptocurrency market is highly volatile, it is important to monitor the price action closely and consider multiple factors before making any investment decisions. Solid support: The EMA 50 at $28,064 could act as a solid support level for Bitcoin if the price falls further. This is because the EMA 50 is a widely used technical indicator that can attract buyers and prevent the price from falling below this level. Local support: The 4-hour timeframe 0.5 Fibonacci at $27,984 could act as a local support level for Bitcoin if the price continues to fall. This is because Fibonacci levels are widely used by traders to identify potential support and resistance levels. Local resistance: The 4-hour timeframe upper Bollinger band at $28,564 could act as a local resistance level for Bitcoin if the price rises. This is because the upper Bollinger Band is a technical indicator that can attract sellers and prevent the price from rising above this level. Solid resistance: The 24h high at $28,750 could act as a solid resistance level for Bitcoin if the price continues to rise. This is because the 24h high is a recent high that can attract sellers and prevent the price from rising above this level. Bullish Scenario: If the buying pressure increases, Bitcoin could break above the 4-hour timeframe 0.5 Fibonacci at $27,984, and potentially rise towards the 4-hour timeframe upper Bollinger band at $28,564. If the bullish momentum continues, Bitcoin could break above the 24h high at $28,750 and potentially rise towards the next resistance level at the 4-hour timeframe 0 Fibonacci at $28,774. A sustained move above this level could lead to further bullish momentum and potentially push Bitcoin towards the next resistance level at the 4-hour timeframe 1 Fibonacci at $27,195. Bearish Scenario: If the selling pressure increases, Bitcoin could break below the 4-hour timeframe 0.5 Fibonacci at $27,984 and potentially fall towards the 4-hour timeframe 1 Fibonacci at $27,195. If the bearish momentum continues, Bitcoin could break below the 4-hour timeframe 1 Fibonacci and potentially fall towards the 4-hour timeframe lower Bollinger band at $27,706. A sustained move below this level could lead to further bearish momentum and potentially push Bitcoin towards the next support level at the 4-hour timeframe 0 Fibonacci at $28,774. If Bitcoin fails to hold above this level, it could potentially fall toward the next support level at the EMA 50 at $28,064.
by MonoCoinSignal
16
NIFTY strong REVERSAL candle on WEEKLY TF#NIFTY Strong reversal candle this week & long leg Doji on Monthly Chart after 3 Consecutive months sell-off! If one had read the chart without any bias, the trend on weekly charts was up & not down. Only a break below 16740-50 levels would mean a change in trend to downtrend. The Price perfectly fulfills my last idea and moved towards the upside and also closes above the 17222+ On weekly chart. From the support zone of 16850 price moved towards the upside till the 17380+ with a bullish candle and price closes on positive note on weekly chart in the Friday session. After 3 consecutive red candle on weekly chart we closes in big green candle in the last week. Now the price can head towards the 17555--17600 level to touch the upper downward parallel channel and if price go sideways for 1 or 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 17600 and sustain above it than we can see tremendous move towards upside and targets will 18000/18222+ In coming trading sessions. If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again move towards the downside till the support level.
NSE:NIFTYLong
by Jha_Nidhi
Bitcoin Technical Analysis, Bullish Momentum vs. Bearish WarningBitcoin's current price is $28240, with a -0.01% change in the past 24 hours. The Relative Strength Index (RSI) is at 59.5, indicating a neutral market. The Volume Oscillator is at +3.90%, which suggests that buying pressure is currently present. The MACD is at +54, indicating a bullish trend. The Stochastic Oscillator is at 76, which is in the overbought region, suggesting a possible reversal. The On-Balance Volume (OBV) is at 1.214M, indicating that buying pressure has been consistent over time. Looking at the Fibonacci levels, we see that the 1-hour timeframe 0 Fibonacci level is at 27199, which is a strong support level. The 1-hour timeframe 0.5 Fibonacci level is at 27850, which is also a support level. The 1-hour timeframe 1 Fibonacci level is at 28501, which is a resistance level. The upper Bollinger band is at 28356, which is a strong resistance level. The lower Bollinger band is at 27570, which is a support level. The middle Bollinger band is at 27963, which is also a support level. Local support: 1-hour timeframe 0 Fibonacci at 27199, 24-hour low at 27200, 1-hour timeframe lower Bollinger band at 27570 Solid support: 1-hour timeframe 0.5 Fibonacci at 27850 Solid resistance: 1-hour timeframe 1 Fibonacci at 28501, 24-hour high at 28444, 1-hour timeframe upper Bollinger band at 28356 Bullish Scenario: If Bitcoin's price can break above the upper Bollinger band at 28356 and stay above it, this could indicate a bullish trend, potentially leading to a breakout above the 1-hour timeframe 1 Fibonacci level at 28501. Additionally, if the MACD continues to stay positive and the buying pressure continues to increase, this could further support a bullish scenario. Bearish Scenario: If Bitcoin's price fails to break above the upper Bollinger band at 28356 and falls below the 1-hour timeframe 0.5 Fibonacci level at 27850, this could indicate a bearish trend. If the Stochastic Oscillator continues to stay in the overbought region, this could suggest a possible reversal. Additionally, if the selling pressure increases and the buying pressure decreases, this could further support a bearish scenario.
by MonoCoinSignal
24
Bitcoin's Key Prices and Possible Scenarios: Bulls vs BearsBitcoin's price is currently sitting at $28400, with a positive change of 1.16% over the past 24 hours. This is a relatively stable position for Bitcoin, but there are a few things we need to take into consideration. Firstly, the Relative Strength Index (RSI) is hovering around 49.88, which means that Bitcoin is neither oversold nor overbought. This indicates that there's not much market enthusiasm for buying or selling Bitcoin at the moment. When we look at the Fibonacci retracement levels for the 4-hour timeframe, we can see that the 0 Fibonacci level is at 28819, the 0.5 Fibonacci level is at 28164, and the 1 Fibonacci level is at 27510. These levels can act as potential support or resistance for Bitcoin's price, but we'll have to see how the market behaves to know for sure. The Bollinger Bands for the 4-hour timeframe show that the upper band is at 28629, the lower band is at 28315, and the middle band is at 28472. These bands help us identify potential breakouts or reversals in price movements. The volume oscillator is currently at -23%, which indicates that there's been a decrease in trading volume for Bitcoin recently. However, the On-Balance-Volume (OBV) is at 1.204M, which shows that there's still more buying pressure than selling pressure for Bitcoin at the moment. Moving on to some technical indicators, the Moving Average Convergence Divergence (MACD) is at 34, which is a positive sign for traders who use this indicator to identify trend changes. The Stochastic oscillator is currently at 13, which is considered to be in oversold territory. This could indicate a potential reversal in the price of Bitcoin. Finally, we have the Hourly Exponential Moving Average (EMA) 50, which is currently at 28321. This can act as another potential support or resistance level for Bitcoin's price. All in all, Bitcoin seems to be in a relatively stable position right now, but there are some signs that things could be shifting. It's important to keep an eye on all of these indicators and consider them together before making any trading decisions. Local Support: The 4-hour timeframe 0.5 Fibonacci level at 28164 could act as a local support level for Bitcoin's price. This level has been tested a few times in the past, and if Bitcoin's price were to drop below this level, it could indicate a shift toward a more bearish trend. Solid Support: The 4-hour timeframe 1 Fibonacci level at 27510 is a solid support level for Bitcoin's price. If Bitcoin were to drop below this level, it could indicate a significant shift towards a more bearish trend and potentially signal a longer-term downtrend. Local Resistance: The 4-hour timeframe upper Bollinger band at 28629 could act as a local resistance level for Bitcoin's price. This level has been tested a few times in the past, and if Bitcoin's price were to break above this level, it could indicate a shift toward a more bullish trend. Solid Resistance: The 4-hour timeframe 0 Fibonacci level at 28819 is a solid resistance level for Bitcoin's price. If Bitcoin were to break above this level, it could indicate a significant shift towards a more bullish trend and potentially signal a longer-term uptrend. Bearish scenario: If Bitcoin's price were to break below the 4-hour timeframe 0.5 Fibonacci level at 28164, it could indicate a bearish trend. If this level doesn't hold as support, Bitcoin could continue to drop towards the 4-hour timeframe 1 Fibonacci level at 27510. If Bitcoin were to break below this level, it could signal a more significant shift towards a bearish trend, potentially leading to a longer-term downtrend. In this scenario, traders may look to short Bitcoin and set stop-loss orders above the 4-hour timeframe 0.5 Fibonacci level. Bullish scenario: If Bitcoin's price were to break above the 4-hour timeframe upper Bollinger band at 28629, it could indicate a bullish trend. If this level holds as support, Bitcoin could continue to rise towards the 4-hour timeframe 0 Fibonacci level at 28819, which is a solid resistance level. If Bitcoin were to break above this level, it could signal a significant shift towards a bullish trend, potentially leading to a longer-term uptrend. In this scenario, traders may look to buy Bitcoin and set stop-loss orders below the 4-hour timeframe upper Bollinger band.
by MonoCoinSignal
38
Ethereum Hovers Between Support and Resistance LevelsEthereum is currently trading at $1826 with a positive change of +1.13% in the past 24 hours. The Relative Strength Index (RSI) is at 56, indicating moderate buying pressure. The 1-hour timeframe Fibonacci retracement levels are at 1812 (0%), 1829 (0.5%), and 1847 (1%), respectively. The upper Bollinger band is at 1831, the lower Bollinger band is at 1818, and the middle Bollinger band is at 1825. The Volume oscillator is at -24%, while the Moving Average Convergence Divergence (MACD) is at +3.81. The Stochastic oscillator is at 46, and the Hourly Exponential Moving Average (EMA) 50 is at 1813. The On-Balance Volume (OBV) is at 3.781M. The 24-hour high is at 1847, and the 24-hour low is at 1804. Bullish scenario: If the price of Ethereum breaks above the upper Bollinger band and the 1-hour timeframe Fibonacci retracement level of 0.5% at 1829, it could indicate a bullish move towards the 1-hour timeframe Fibonacci retracement level of 1% at 1847. Additionally, if the MACD line crosses above the signal line and the Stochastic oscillator crosses above the oversold level of 20, it could further confirm a bullish trend. In this scenario, the price of Ethereum could potentially reach its resistance level at 1847. Bearish scenario: If the price of Ethereum breaks below the lower Bollinger band and the 1-hour timeframe Fibonacci retracement level of 0% at 1812, it could indicate a bearish move towards the 1-hour timeframe Fibonacci retracement level of 0.5% at 1829. Additionally, if the MACD line crosses below the signal line and the Stochastic oscillator crosses below the overbought level of 80, it could further confirm a bearish trend. In this scenario, the price of Ethereum could potentially reach its support level at 1804. Local support: $1804 This is the 24-hour low and could potentially act as a support level if the price of Ethereum continues to drop. Solid support: $1812 This is the 1-hour timeframe 0% Fibonacci retracement level and could potentially act as a solid support level if the price of Ethereum drops further. Additionally, the Hourly EMA 50 at 1813 could also act as a solid support level. Local resistance: $1829 This is the 1-hour timeframe 0.5% Fibonacci retracement level and could potentially act as a resistance level if the price of Ethereum tries to move higher. Solid resistance: $1831 This is the upper Bollinger band and could potentially act as a solid resistance level if the price of Ethereum tries to move higher. Additionally, the 1-hour timeframe 1% Fibonacci retracement level and 24-hour high at 1847 could also act as a solid resistance level.
by MonoCoinSignal
17
ETH Poised for Potential Surge!Ethereum (ETH) is currently trading at $1800 with a slight decline of 0.76% in the past 24 hours. The Relative Strength Index (RSI) is at 57, indicating that the asset is neither oversold nor overbought. The Fibonacci retracement levels for the 4-hour timeframe are 1686 (0 level), 1743 (0.5 level), 1800 (1 level), and 1871 (1.618 level). The upper and lower Bollinger bands are at 1840 and 1693 respectively, with the middle band at 1766, indicating that the price is currently hovering around the middle range. The Volume oscillator is at -4%, while the Moving Average Convergence Divergence (MACD) is at -7.13, indicating a bearish trend. The Stochastic oscillator is at 78, indicating that the asset is close to overbought territory. The hourly Exponential Moving Average (EMA) 50 is currently at 1764, indicating that the short-term trend is neutral. On-Balance Volume (OBV) is at 20.865M, suggesting that there is overall buying pressure in the market. The 24-hour high is at 1829, while the 24-hour low is at 1766. Ethereum is expected to breach the $2000 ceiling in the coming months due to several factors, including the increasing popularity of decentralized finance (DeFi) applications and the launch of Ethereum 2.0, which promises to bring scalability and efficiency to the network. The current dip in the market presents a buying opportunity for long-term investors. In summary, while the short-term trend for Ethereum appears bearish, several positive factors could drive the asset's price upward in the coming months. Investors may want to keep an eye on the Fibonacci retracement levels, the Bollinger bands, and the MACD to make informed trading decisions. Additionally, the OBV suggests that buying pressure is present in the market, indicating that long-term investors may want to consider adding Ethereum to their portfolios. Bullish scenario: If ETH manages to break above the 4-hour timeframe upper Bollinger band of 1840 and the 4-hour timeframe 1 Fibonacci level of 1800 with strong buying pressure, it could indicate that the bulls are in control and that a potential uptrend may be forming. In this scenario, the next major resistance level to watch would be the 4-hour timeframe 1.618 Fibonacci level of 1871. If ETH manages to break above this level, it could trigger a potential surge in price, with the next key resistance levels being around the $2,000 mark. Bearish scenario: If ETH fails to break above the 4-hour timeframe upper Bollinger band of 1840 and the 4-hour timeframe 1 Fibonacci level of 1800 and starts to decline, it could indicate that the bears are in control and that a potential downtrend may be forming. In this scenario, the 4-hour timeframe 0.5 Fibonacci level of 1743 could provide a key support level. If this level fails to hold, the next major support level to watch would be the 4-hour timeframe 0 Fibonacci level of 1686. If ETH breaks below this level, it could trigger a potential sell-off, with the next key support levels being around the $1,500 mark. Good luck!
by MonoCoinSignal
23
EURJPY Technical Analysis! Buy! My dear friends, This is my opinion on the EUR/JPY next move: The market is trading on 144.0 pivot level. Bias - bullish. Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Goal - 144.7 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2
Natural Gas BULLISH DIVERGENCE on DAILY TFThe price trading at Lower level and there is RSI BULLISH DIVERGENCE also on weekly chart which indicating that price has not much momentum and strength to go further downside .On the daily chart, the RSI indicator is also close to crossing below 30, Signaling overbought conditions. 👉 RSI DIVERGENCE does not confirm that the price will reverse but divergence indicates that the price does not have the strength to go down. So for any upside view let the price confirms the strong Reversal for any upside momentum.✅
MCX:NATURALGAS1!Long
by Jha_Nidhi
📊 Best Beginner Technical IndicatorsTechnical indicators are mathematical calculations based on an asset's price and/or volume that are used to analyze market trends and identify potential trading opportunities. 📍Trend indicators: These indicators are used to identify the direction of the market's trend over a given time period. Some popular trend indicators include moving averages, trendlines, and the Average Directional Index (ADX). 📍Relative strength indicators: These indicators compare the strength of a security's price action to the strength of a market index or another security. They are often used to identify potential buying or selling opportunities based on whether a security is overbought or oversold. Examples of relative strength indicators include the Relative Strength Index (RSI) and the Stochastic oscillator. 📍Momentum indicators: These indicators measure the rate of change in a security's price over a given time period. They can be used to identify potential trend reversals or confirm the strength of a current trend. Examples of momentum indicators include the Moving Average Convergence Divergence (MACD) and the Rate of Change (ROC). 📍Volume indicators: These indicators measure the trading volume of a security over a given time period. They can be used to confirm the strength of a trend or identify potential trend reversals. Examples of volume indicators include the Chaikin Oscillator and On-Balance Volume (OBV). 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
6
Ethereum's Short-term Outlook: Bullish vs. Bearish ScenariosEthereum's current price is $1757 with a 1-hour timeframe. In the past 24 hours, it has decreased by 2.73%. The Relative Strength Index (RSI) is currently at 52.34, indicating that Ethereum is neither oversold nor overbought. The Fibonacci levels can be used to identify potential support and resistance levels for Ethereum. The 1-hour timeframe 0 Fibonacci is at 1686, indicating that Ethereum could potentially find support at this level. The 0.5 Fibonacci level is at 1743, indicating that this level could act as a potential resistance level. The 1 Fibonacci level is at 1800, and the 1.618 Fibonacci level is at 1871, indicating that these levels could act as potential resistance levels as well. The Bollinger bands can be used to identify the volatility of Ethereum's price movements. The upper Bollinger band is at 1732, indicating that this could act as a potential resistance level. The lower Bollinger band is at 1700, indicating that this could act as a potential support level. The middle Bollinger band is at 1716, indicating that this could be the average price level for Ethereum. The volume oscillator is at -4%, indicating that there is a decrease in the volume of trades for Ethereum. The Moving Average Convergence Divergence (MACD) is at -4.28, indicating that the short-term moving average is below the long-term moving average, and the momentum is currently bearish. The Stochastic oscillators are at 87, indicating that Ethereum's price is close to its highest point over the last 14 periods. The hourly exponential moving average (EMA) 50 is at 1735, indicating that Ethereum's current price is below its hourly EMA 50, which is a bearish sign. On-Balance Volume (OBV) is at 3.553M, indicating that there has been a slight increase in the volume of trades for Ethereum. Recent news indicates that despite the Ethereum network burning over 3 million ETH, Ethereum is still pinned below $2000. This news could have a negative impact on Ethereum's price as investors may perceive this as a lack of demand for Ethereum. Overall, based on the technical indicators, Ethereum's short-term outlook appears to be bearish. However, it is important to consider both technical and fundamental factors when making investment decisions, as the recent news could potentially impact Ethereum's price in the future. Bullish scenario: If Ethereum's price manages to break above the 1-hour timeframe 0.5 Fibonacci level at 1743 and the upper Bollinger band at 1732, it could potentially continue to rise towards the 1-hour timeframe 1 Fibonacci level at 1800, which is a key resistance level. If Ethereum manages to break above 1800, it could potentially continue to rise towards the 1.618 Fibonacci level at 1871. The On-Balance Volume (OBV) has seen a slight increase in volume, indicating that there is some buying pressure. If this trend continues and buying pressure increases, it could push Ethereum's price higher. Bearish scenario: If Ethereum's price drops below the 1-hour timeframe 0 Fibonacci level at 1686 and the lower Bollinger band at 1700, it could potentially find support at the 0.236 Fibonacci level at 1643. However, if this support level breaks, it could potentially drop towards the 0.382 Fibonacci level at 1579. The MACD is currently bearish, with the short-term moving average below the long-term moving average. If this trend continues, it could push Ethereum's price lower. Additionally, recent news about Ethereum being pinned below $2000 despite burning over 3 million ETH could have a negative impact on Ethereum's price as investors may perceive this as a lack of demand for Ethereum. If this news continues to affect market sentiment, it could push Ethereum's price lower.
by MonoCoinSignal
31