Looking at the current price action, Ethereum is showing strong bearish momentum. Based on the chart indicators and current trend, I'm expecting a further dip. My target for the next support level is around $2,325.
What are your thoughts? Is it time to short or wait for a bounce? 🤔
The king of crypto, Bitcoin (BTC), is currently trading at 77,243.01, marking a solid +3.37% gain in the last 24 hours.
Key Technical Highlights:
Current Trend: BTC is showing strong recovery after hitting a 24h low of 74,555.12. It recently touched a high of 78,333.00.
Support & Resistance: We are seeing some consolidation around the $77,200 zone. Holding above this level is crucial for the next push toward $79k.
Volume Analysis: Trading volume remains healthy with 1.93B USDT traded in the last 24 hours, indicating active market participation.
The overall sentiment looks bullish as BTC continues to trade well above its daily opening price. Watching closely for a breakout above the recent high of 78,333.
The current price of ETH/USDT is sitting at 2,421.44, showing a +3.87% increase over the last 24 hours.
Key Technical Observations:
Supertrend: The indicator is currently green, suggesting a bullish sentiment on the 15-minute timeframe with support near the 2,408 level.
Volume: We saw a significant spike earlier, though it has stabilized in the recent candles.
Recent High: The price touched a local high of 2,463.86 before a minor consolidation.
The market is showing strength today, recovering well from the 24h low of 2,314.08. ETH continues to hold its ground above the key psychological level of $2,400.
Ethereum is showing strong bullish momentum on the 15m chart, currently trading around $2,426 with a +4.40% gain in the last 24 hours. The price has successfully bounced off the key support levels and is trending above the major Moving Averages (MA25 and MA99).
If the current volume continues to support this move, we might see a retest of the recent high at $2,463.
Current Observations: Support: $2,400 - $2,415 Resistance: $2,465 Trend: Bullish in the short term
What are your thoughts? Are you looking for a Long position here or waiting for a pullback? Let's discuss in the comments! 👇