ETHEREUM - ETH/USDT

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Type:	Cryptocurrencies
Ticker:	ETHUSDT
ISIN:

ETHEREUM - ETH/USDT - 1H - Technical analysis published on 01/12/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

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ETHEREUM - ETH/USDT Chart

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

17%

44%

39%

My opinion

Bullish above 2,570.11 USDT

My targets

2,642.04 USDT (+1.79%)

2,688.98 USDT (+3.59%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on ETHEREUM - ETH/USDT. As long as you are above the support located at 2,570.11 USDT, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 2,642.04 USDT would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 2,688.98 USDT as an objective. Crossing it would then enable buyers to target 3,521.93 USDT. If the support 2,570.11 USDT were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.

Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.

Force

1.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Andrii.

Additional analysis

Quotes

The ETHEREUM - ETH/USDT rating is 2,595.70 USDT. The price registered a decrease of -0.85% on the session with the lowest point at 2,580.36 USDT and the highest point at 2,624.21 USDT. The deviation from the price is +0.59% for the low point and -1.09% for the high point.

2,580.36

2,624.21

2,595.70

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by ETHEREUM - ETH/USDT:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of ETHEREUM - ETH/USDT in 1H shows an overall bullish trend. The signals given by moving averages are 71.43% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,358.06	2,411.10	2,570.11	2,595.70	2,642.04	2,688.98	3,521.93
Change (%)	-9.16%	-7.11%	-0.99%	-	+1.79%	+3.59%	+35.68%
Change	-237.64	-184.60	-25.59	-	+46.34	+93.28	+926.23
Level	Intermediate	Intermediate	Minor	-	Minor	Intermediate	Minor

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,436.96	2,501.56	2,559.79	2,624.39	2,682.62	2,747.22	2,805.45
Camarilla	2,584.25	2,595.51	2,606.77	2,618.03	2,629.29	2,640.55	2,651.81
Woodie	2,433.79	2,499.97	2,556.62	2,622.80	2,679.45	2,745.63	2,802.28
Fibonacci	2,501.56	2,548.48	2,577.47	2,624.39	2,671.31	2,700.30	2,747.22

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,845.35	2,000.47	2,120.60	2,275.72	2,395.85	2,550.97	2,671.10
Camarilla	2,165.04	2,190.27	2,215.50	2,240.73	2,265.96	2,291.19	2,316.42
Woodie	1,827.86	1,991.72	2,103.11	2,266.97	2,378.36	2,542.22	2,653.61
Fibonacci	2,000.47	2,105.62	2,170.58	2,275.72	2,380.87	2,445.83	2,550.97

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,669.45	1,857.44	2,069.70	2,257.69	2,469.95	2,657.94	2,870.20
Camarilla	2,171.89	2,208.58	2,245.27	2,281.96	2,318.65	2,355.34	2,392.03
Woodie	1,681.59	1,863.51	2,081.84	2,263.76	2,482.09	2,664.01	2,882.34
Fibonacci	1,857.44	2,010.34	2,104.80	2,257.69	2,410.59	2,505.05	2,657.94

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	51.74
MACD (12,26,9):	11.9500
Directional Movement:	4.62
AROON (14):	-7.14
DEMA (21):	2,621.49
Parabolic SAR (0,02-0,02-0,2):	2,663.39
Elder Ray (13):	-6.34
Super Trend (3,10):	2,549.86
Zig ZAG (10):	2,595.70
VORTEX (21):	1.0100
Stochastique (14,3,5):	25.99
TEMA (21):	2,596.63
Williams %R (14):	-58.74
Chande Momentum Oscillator (20):	-6.69
Repulse (5,40,3):	-0.2800
ROCnROLL:	-1
TRIX (15,9):	0.1200
Courbe Coppock:	2.34

MA7:	2,419.22
MA20:	2,337.42
MA50:	2,257.50
MA100:	2,028.90
MAexp7:	2,598.93
MAexp20:	2,598.61
MAexp50:	2,540.78
MAexp100:	2,459.71
Price / MA7:	+7.29%
Price / MA20:	+11.05%
Price / MA50:	+14.98%
Price / MA100:	+27.94%
Price / MAexp7:	-0.12%
Price / MAexp20:	-0.11%
Price / MAexp50:	+2.16%
Price / MAexp100:	+5.53%

Quotes : - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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