😃 Hey , how’s it going ? Come over here — Winter got something for you!
⏰ We’re analyzing ETH on the 1-Hour timeframe.
👀 On the 1-hour chart, we can see that Ethereum lost an important support level at $4,571 and then moved downward, finding support around $4,513. Two consecutive 1-hour candles have closed above this level. Currently, price is trading between $4,513 and $4,571, and a breakout of either zone could lead Ethereum toward the next support or resistance level.
🧮 The RSI oscillator is hovering around 50-30, indicating that a breach of these levels could trigger momentum toward the target zones.
🕯 The size and volume of red candles increased as price reached $4,621 after a short range, and the market then reversed downward. A significant support level was broken, accompanied by a large red “whale” candle reflecting strong selling pressure.
Ethereum may attempt to move toward resistance next, and it’s important to monitor the type and volume of candles forming in this area.
💸 On the ETH/BTC pair, we can see that after breaking its previous low, price moved downward but then found support around 0.0384 and is now moving upward. We need to monitor how far this pair can continue, as there is a resistance level at 0.03931. A breakout above this resistance could trigger a renewed upward move.
Additionally, the pair has formed a higher low compared to its previous bottom, providing the first confirmations of a bullish trend for ETH relative to BTC. This signals a potential long opportunity on this trading pair.
🧠 It’s better to wait for a clearer structure before opening new positions.
If you want to trade sooner, a break of resistance at $4,621 could offer a long position.
Another resistance level at $4,571 can also provide a potential long entry with lower risk, though the win probability is slightly lower — consider this a riskier trigger.
❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .
