ETH on the 1H
ETH is still hovering around the green local support zone.
Yesterday it bounced from the daily close (black dotted line). Today it broke the lower limit of the green zone, stalled at the 50MA, and is now retesting that same lower limit, with the 50MA pressing down.
If support holds, a bounce back above the 50MA toward the upper limit of this green zone is possible. If it fails, $4K could be the next support.
Current signals:
MLR > SMA > BB Center, PSAR bullish → trend still favors the upside.
RSI is above 50 but pointing down.
MACD is right on the edge of flipping red.
Important: structure is still lower lows + lower highs, so if you’re looking to go long, tight risk management is not optional.
Always take profits and manage risk.
Interaction is welcome.
Trade active
ETH’s not backing down.Last 1H printed a bullish engulfing right inside the green support zone.
One more green close and the 50MA flips to support. Momentum’s shifting.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.