$ETH

• The current price is approximately $1981

• There was a peak at $2199, then a strong downward correction began.

• Now the price is moving in a sideways accumulation area after the drop.

Indicators

EMA

• EMA7 ≈ 1991

• EMA25 ≈ 2019

• EMA99 ≈ 2014

The price is below all moving averages → the short trend is still downward / weak.

RSI

• RSI6 ≈ 30 (close to being oversold)

• RSI12 ≈ 40

This means that the drop may calm down soon, and a rebound could occur.

Important Areas

Support

• $1955 is a near support

• $1905 is strong support

• Breaking $1900 may open a drop to $1850

Resistance

• $2000 is a psychological resistance

• $2020 is strong resistance (EMA25)

• $2085, if breached, may bring back the rise

Expected Scenario

The most likely scenario:

• Fluctuation between $1950 – $2020

Upward Scenario:

• Breaking $2020

• Targets:

• $2050

• $2085

• $2120

Downward Scenario:

• Breaking $1955

• Targets:

• $1920

• $1905

Advice for Short Trading (Scalping)

If you are trading with contracts:

Potential Buy

• Entry: $1960 – $1970

• Target: $2000 – $2020

• Stop Loss: $1945

Sell

• If it fails to break $2000