Price Overview
Current Price: $2,617.84 (+6.91%)
24h High: $2,642.88
24h Low: $2,440.00
Ethereum is showing bullish momentum, bouncing off the $2,440 support. The current price suggests strong buying interest, but the $2,642 level is acting as resistance, potentially triggering some profit-taking.
Support and Resistance Levels
Immediate Support: $2,487.66 (SAR value)
Key Resistance: $2,642.88
A close above $2,642 could push ETH toward $2,700 or higher. However, if the price falls below $2,487, a deeper correction towards $2,440 may follow.
Indicators and Signals
SAR (0.02, 0.2): 2,487.66
The SAR indicates the trend remains positive, but a reversal may occur if ETH breaks below 2,487.
Volatility:
High: +8.95%, signaling strong buying pressure
Low: -7.28%, suggesting the potential for a pullback after the rally.
Short-Term Trend Outlook
The 15-minute, 1-hour, and 4-hour charts show continued bullish momentum. However, some consolidation or a brief correction could occur as ETH approaches the resistance at 2,642.
Conclusion
If ETH can break above 2,642, the next target lies around 2,700 to 2,750. A drop below 2,487, however, could bring the price back toward 2,440.
Strategy:
Bullish traders might consider adding positions above 2,642.More cautious traders can wait for a pullback near 2,487 for better entry points.Manage your risk carefully, as volatility remains elevated.
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