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📊 ETH/USDT Market Snapshot – Short-Term Cooling, Eyes on Support
The ETH/USDT pair has seen a noticeable pullback after touching a recent high of $3,735.15, now hovering around $3,584.35, down by approximately 3.38% in the last 24 hours.
🔎 Technical Analysis Overview:
Trend Watch: After a strong upward move from the $3,352.00 support zone, ETH hit a resistance at $3,735.15 and started pulling back. The price is now testing the mid-range between the recent low and high.
Moving Averages Insight: ETH is trading right near its MA5 and EMA10, suggesting a potential squeeze. EMA30 is slightly below current price, acting as soft support. If price holds above the $3,550–$3,575 zone, bulls may look to regain strength.
MACD Indicator: A bearish crossover is currently active. The MACD line is under the signal line with widening separation, signaling short-term momentum weakness. Watch for any flattening or reversal in the MACD to spot early recovery signs.
KDJ & RSI: The KDJ lines show K and D curling downward, indicating slowing momentum. The RSI(6) is around 35, hovering close to the oversold zone, hinting at a possible short-term bounce.
Williams %R: Reading around -78 suggests ETH is deep into oversold territory, often seen before a recovery attempt.
📉 Short-Term Outlook (1H–4H):
ETH could retest the $3,555–$3,575 support range. If that level holds, we may see a relief bounce back toward $3,620–$3,660. However, if breakdown pressure increases, next strong support lies near $3,500–$3,520.
📈 Longer-Term Bias (Daily Perspective):
The uptrend from earlier this month is still valid unless ETH breaks below $3,500. Bulls may be preparing for another attempt upward if the current correction stabilizes above key moving averages.
🧠 Final Thought: ETH is currently in a correction phase after a strong bullish push. It’s crucial to monitor price behavior near key supports. A stable base here could set up the next move, especially if broader market sentiment remains supportive.
🕵️ Reminder: This is a personal market view, not financial advice. Always DYOR and manage your risk wisely.
#ETH#