ETH/USDT 1DAY CHART ANALIYSIS !!
Here is the daily chart of Ethereum (ETH) against Tether (USDT), with a focus on a potential short scenario. The analysis based on the chart is as follows:
The chart shows a clear descending trend with lower highs and lower lows, indicating bearish momentum in the market.
The price is currently near a key support area of around $2,360, highlighted by the brown horizontal area. This support area has been tested multiple times and is crucial for the next price action.
there is a resistance area near $2,800, which has previously acted as a supply area, which could potentially limit any immediate bullish rally.
A breakdown from a small ascending wedge or consolidation pattern appears, indicating further bearish pressure.
The chart shows a possible rebound from the current support zone, but with overall bearish pressure, the broader movement may remain downward until the price breaks above the resistance.
Below is a long-term ascending trendline, which could act as a key support level if the current support fails.
the short-term scenario remains bearish, with a short-term bounce likely from current levels. However, the general bias suggests caution, as the breakdown from the recent consolidation points to a risk of continued declines unless key resistance levels are broken.
Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you.
The chart shows a clear descending trend with lower highs and lower lows, indicating bearish momentum in the market.
The price is currently near a key support area of around $2,360, highlighted by the brown horizontal area. This support area has been tested multiple times and is crucial for the next price action.
there is a resistance area near $2,800, which has previously acted as a supply area, which could potentially limit any immediate bullish rally.
A breakdown from a small ascending wedge or consolidation pattern appears, indicating further bearish pressure.
The chart shows a possible rebound from the current support zone, but with overall bearish pressure, the broader movement may remain downward until the price breaks above the resistance.
Below is a long-term ascending trendline, which could act as a key support level if the current support fails.
the short-term scenario remains bearish, with a short-term bounce likely from current levels. However, the general bias suggests caution, as the breakdown from the recent consolidation points to a risk of continued declines unless key resistance levels are broken.
Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.