๐ ETH/USDT โ Daily Chart Analysis
ETH is attempting a base formation after a deep correction, but confirmation is still pending.
๐น Price: ~$3,102
๐น Local Low: ~$2,623
๐น Market Structure: Recovery phase
๐ Technical Observations
๏ธ โ Strong Bounce From Support
ETH defended the 2,620โ2,650 demand zone, indicating solid buyer interest.
โ Short-Term Trend Improving
Price is above MA(25)
MA(7) is flattening and trying to turn up
Suggests short-term bullish momentum
โ ๏ธ Major Resistance Ahead
MA(99) ~3,400 acting as dynamic resistance
Previous rejection near 3,300โ3,350 zone
๐ Volume Insight
Volume remains moderate โ bulls need stronger participation for continuation.
๐ฏ Key Levels
Support: 2,980 โ 3,000
Major Support: 2,620
Resistance: 3,250 โ 3,350
Trend Flip Level: Above 3,400 (daily close)
๐ง Outlook
Short-term: Range-bound between 3,000 โ 3,300
Bullish scenario: Break & hold above 3,350 โ move toward 3,600
Bearish scenario: Loss of 3,000 โ revisit lower demand zone
๐ Trade Idea (Not Financial Advice):
Aggressive longs on pullbacks near 3,000 with tight SL. Conservative traders wait for daily close above 3,400.
โก ETH is stabilizing, but patience is required before calling a full trend reversal.
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