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ETH/USDT Daily Analysis: Ethereum is trading around $2,368, attempting to rebound from the lower boundary of a descending channel. The price has respected the support zone between $2,150 and $2,250, which is marked by the brown shaded area on the chart. The red-shaded area between $4,000 and $4,600 is the major resistance zone. A breakout above this zone would be a strong bullish signal, potentially leading to a continuation towards higher levels. Key support is currently at the brown zone between $2,150 and $2,250. A failure to hold this level could result in Ethereum testing lower support of around $2,000 or potentially the channel's lower trendline. A successful hold above the current support and a break above the descending resistance trendline could see Ethereum targeting $3,000 and beyond. Positive signals from momentum indicators would further confirm a bullish trend continuation. If Ethereum fails to maintain its position above the current support and falls back into the descending channel, it could retest the lower support zone around $2,150. A further breakdown below this level might open the path towards $2,000 or lower. Ethereum is showing a potential rebound from key support, but confirmation of a breakout above the descending trendline is needed for a bullish continuation. Keep an eye on momentum indicators and broader market conditions for further clues. Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
Long
by CryptoSanders9563
Ethereum | 3 Months RedThree months red? It never happens. It only happened in 2022 and that's because we were dealing with a bear-market. Then it happened again in 2018 but that is because we were dealing with a bear-market. The ensuing years, never, never three months red. It is like the launch of the spot ETFs changed the market dynamics, it changed our map. Ok, the map changed so what? We adapt to market conditions, that's what we do, it is not like we cannot adapt pretty easily. Ethereum closed three months red already, something that only happened twice on this chart, in 2022 and 2018. Apart from these bear-market years, Ethereum would never close three consecutive months red let alone four or five. Relief? ➢ Since we have three months that closed red the market calls for a relief rally? ➢ Since we have three months red the market must turn? ➢ Since we have three months red the fourth must be bullish? Anything can happen but we read the chart. Three months red is a bearish signal, but relief is always necessary. Let's look at some scenarios. Say this month wicks down strong and closes green; that's relief. Say this month closes red and next month (October) and the month after (November) close green; that would be a relief rally. We can impose our beliefs on the market, saying "this must happen" or "that must happen for this or that reason," or we can read the chart, see what is actually happening and determine based on this data what is likely to happen next. The times that Ethereum closed three months red it continued red for another six additional months. Market conditions are different now, but we can only be guided by the data on the chart. The weekly MACD and RSI are on the bearish zone. The monthly MACD and RSI are both trending down strong. ➖ ETHUSDT Monthly RSI: ➖ ETHUSDT Monthly MACD: (Bearish cross in the making.) This is the monthly chart, one candle is 720 stronger than the hourly chart. Maybe it will grow, but I need confirmation by seeing prices going up. As long as it is red, it is going down. Thanks a lot for your support. Namaste.
by AlanSantana
2
ETHUSDT: Important resistance and support to look for!!Join our community and start your crypto journey today for: In-depth market analysis Accurate trade setups Early access to trending altcoins Life-changing profit potential Hello everyone, ETHUSDT is currently holding on to a long-standing trendline that has provided consistent support over time. The price has bounced off this trendline multiple times, but the recent repeated dips to $2093 and $2150 have created a scenario where further pressure could potentially lead to a break below this support. The significant drop in volume raises concerns about a possible downward move. For ETH to avoid breaking this key support, it would need to rally and break and give weekly closing above the resistance level at $2535, which could signal a reversal of the current downtrend. If the trendline breaks, the below support zones will likely come into play. Upper support zone: SUPPORT ZONE= $1695 to $1827 Lower support zone: SUPPORT ZONE= $1274 to $1371 If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see. Happy Trading!!
by persis10t
#ETH There are still goals to achieve, cautious bearish📊#ETH There are still goals to achieve, cautious bearish ⚠️ 🧠From a structural perspective, we have constructed a double-bottom bullish structure near the buying zone. We have now reached the overlapping area of ​​the periodic resistance zone and the downward trend line. It is reasonable to fall back when encountering resistance. However, the most ideal bull target area can still be expected. Before the double bottom structure is destroyed, please be cautious in going short. Let’s see 👀 🤜If you like my analysis, please like 💖 and share 💬 💕 Follow me so you don't miss out on any signals and analyze 💯 BINANCE:ETHUSDT.P
Long
by wolf_king888
Ethereum (ETH): Possible double bottom pattern Ethereum has finally reached the support zone we’ve been watching since last week. Now that the price is in that zone, we’re anticipating a potential bounce, which has been playing out well so far. If buyers manage to secure this area, we should see a nice recovery towards the EMAs. However, if they fail, the price could gradually break below the support, leading to a broken double bottom pattern, which typically triggers a strong downward selloff Swallow Team
Short
by SwallowPremium
2
Ethereum (ETH): possible good bounce zone / buying opportunityEthereum has reached a very important zone where price has now reached the lower zone of upward trend (where also 200EMA is acting as a support). Now ideally we should see a good bounce from here and a movement to the upper zone or at least that middle line of Bollinger bands (which is in bearish trend currently). So we wait for a propper bounce to happen from here but bear in mind. Overall market conditions are not looking good so if everything goes against our plans, then a good downward movement will happen (if the EMA zone will be secured by sellers). Swallow Team
Short
by SwallowPremium
1
Long on Ethereum (ETH)Going long on Ethereum (ETH) near $2,100 offers a favorable risk-reward setup: Support at $2,100: This level has shown strong buying interest, making it a potential base for a long position. Risk Management: Set a tight stop-loss slightly below support, around $2,050–$2,000, to minimize downside risk. Upside Potential: If the support holds, ETH could bounce towards higher resistance levels, offering a solid reward compared to the risk. Key factors to monitor: overall market sentiment, BTC correlation, and ETH-specific news (network upgrades or regulations).
Long
by nitk618
ETH/USDT Weekly Update:The weekly chart of ETH/USDT shows a strong ascending trendline support that has been respected over the past several months. The price is currently testing this trendline support near the $2,300 level, suggesting a potential bounce from this key support area. The primary support level is the ascending trendline around $2,000 to $2,300. Holding this level is crucial for maintaining the bullish structure. A major resistance zone is highlighted between $4,200 and $5,000. This area has acted as a significant supply zone in the past and is likely to be a major obstacle to further upward movement. If ETH can hold above the trendline support and gain momentum, a potential rally toward the $4,200 to $5,000 resistance zone could occur. This would align with the chart's upward arrow, indicating optimism for a continued upward move. If the price fails to hold the support and breaks below the trendline, we might see a deeper correction, potentially testing lower supports around $1,700 to $2,000. A weekly close above $2,400 with increased volume would provide a strong bullish confirmation, suggesting a higher probability of testing the $4,200-$5,000 resistance zone. Monitoring RSI, MACD, or other momentum indicators on the weekly timeframe could provide additional confirmation of a potential trend reversal or continuation. The presence of a large upward arrow on the chart indicates a bullish sentiment, expecting a rebound from the current levels. Broader market conditions, Bitcoin's price action, and macroeconomic factors will also play significant roles in ETH's price trajectory. Traders should consider setting stop-loss orders below the ascending trendline or the $2,000 level to manage downside risk effectively. Regularly review and adjust positions based on evolving market conditions and price actions near key levels. This weekly update outlines the critical levels and scenarios for ETH/USDT, highlighting the importance of the ascending trendline support for the continuation of the bullish outlook. Watch for confirmation signals and stay aware of market influences that could affect ETH's performance. Disclaimer: This is not financial advice. Stay updated with market movements and adjust your trading strategy accordingly. Keep an eye out for further updates and analysis. Thank you!
Long
by CryptoSanders9563