EthereumShort
ETHUSD Short-Term Analysis for 10/11/2024
Disclaimer: This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 1-hour
Market Analysis:
The 1-hour ETHUSD chart exhibits a weakening bullish trend with the Relative Strength Index (RSI) indicating a slight oversold condition and relecting bearish divergence. The price may move up to the point of control, which could act as resistance, potentially leading to a rejection. Key support levels are present at 2,894; if breached, the price could dip to 2,802-2,747.
Key Levels:
Trading Bias:
The ETHUSD price continues to consolidate within a rising wedge pattern, indicating a potential reversal.
https://www.tradingview.com/x/hN0JBKam/
Time Frame: 1-hour
Market Analysis:
The 1-hour ETHUSD chart exhibits a weakening bullish trend with the Relative Strength Index (RSI) indicating a slight oversold condition and relecting bearish divergence. The price may move up to the point of control, which could act as resistance, potentially leading to a rejection. Key support levels are present at 2,894; if breached, the price could dip to 2,802-2,747.
Key Levels:
- Resistance: 3149.00
- Support: 2894.00
- target: 2802.00 - 2747.00
Trading Bias:
The ETHUSD price continues to consolidate within a rising wedge pattern, indicating a potential reversal.
https://www.tradingview.com/x/hN0JBKam/
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