📊 Basic Data:
Current Price: 3439 $
Highest Price in 24 Hours: 3587 $
Lowest Price: 3370 $
Time Frame: 1 Hour
Overall Trend for Today: Corrective Downtrend
Current Retracement: from 3370 $ → 3440 $
---
🔍 Technical Analysis:
1. Support and Resistance:
Strong Support: at 3370 $ (bounced from it twice today).
First Resistance: at 3460–3480 $.
Second Resistance: at 3520–3550 $ (this is a critical area; breaking it may start a real recovery).
2. Candles and Volume:
There is a good green retracement candle after touching 3370 $.
Volume (trading sizes) started to decrease after the rise, which means the retracement might be temporary unless there is strong buying above 3460 $.
3. Indicators (MACD / W%R):
MACD: started to narrow the gap between the lines, indicating a slight upward signal may appear soon.
W%R -68: still in the lower zone, so Ethereum is still somewhat “Oversold” (might correct upwards soon).
---
📈 Possible Scenarios:
🟢 Upward Scenario (40% probability):
The price must hold above 3450 $ and break 3480 $ with a clear close.
Then we might see a quick rise to 3520–3550 $.
If the rise is confirmed, a second target at 3600 $.
🔴 Downward Scenario (60% probability):
If it returns and breaks below 3390 $ or 3370 $,
this means the downward trend continues and it may drop to 3280–3250 $.
