đToday, let's delve into the analysis of Ethereum (ETH) to identify its growth or decline potential.In the 4-hour timeframe, ETH experienced a correction downward to around $3200 after reaching $4063. Currently, it's ranging between $3645 and $3480, with the previous candle breaking below the range. Now, we need to assess whether this could lead to stabilization or a potential fakeout.
âĄïžFrom a Fibonacci perspective, retracement from the 50% level suggests the possibility of further downward movement, potentially extending the correction. If we continue to decline and breach $3299, we might target $2899, a strong support level that could anchor ETH against excessive correction.
đThe volume of red candles significantly outweighs that of green candles, indicating stronger selling pressure. Should this trend persist, further decline can be expected.
đ„Regarding RSI, it previously held support around 44.89, coinciding with $3480, but has now dipped to 37.18. A breach of this level may not provide much distance to oversold territory, potentially leading to sharp movements.
đOverall, these analyses apply to the 4-hour timeframe, with all movements constituting minor corrections in the weekly perspective.
đ§ đŒIt's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
âĄïžFrom a Fibonacci perspective, retracement from the 50% level suggests the possibility of further downward movement, potentially extending the correction. If we continue to decline and breach $3299, we might target $2899, a strong support level that could anchor ETH against excessive correction.
đThe volume of red candles significantly outweighs that of green candles, indicating stronger selling pressure. Should this trend persist, further decline can be expected.
đ„Regarding RSI, it previously held support around 44.89, coinciding with $3480, but has now dipped to 37.18. A breach of this level may not provide much distance to oversold territory, potentially leading to sharp movements.
đOverall, these analyses apply to the 4-hour timeframe, with all movements constituting minor corrections in the weekly perspective.
đ§ đŒIt's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von RatschlÀgen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.