$ETH /USDT – 1H Chart Analysis



Price is at $1,999.73, up 0.45% today. A small recovery, but nothing convincing yet.

On the 1H chart, price is still below all three WMAs – WMA5 at $2,006, WMA10 at $2,009, and WMA20 at $2,007. So the bearish structure is still intact.

Resistance is stacked at $2,006–$2,009, then $2,032 and $2,071. Support sits at $1,993, then the 24H low at $1,967.

RSI values are all below 50 – RSI6 at 37.8, RSI12 at 42.9, RSI24 at 41.9. Weak momentum across the board, but RSI6 is nearing oversold, so a small bounce could happen.

Volume is moderate at $396M.

What I think: ETH is still in a downtrend. It needs to break above $2,009 to turn things around. Until then, the path of least resistance is down. A break below $1,967 would open the door to $1,950 or lower.

Bias: Bearish below WMAs. Watching $2,009 for a potential trend change.
#WinGoldBarsWithGrowthPoints
ETH-0.38%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
HelalChowdhury
· 2h ago
To The Moon 🌕
Reply0
  • Pinned