Ethereum Technical Analysis – 1-Hour Candle Stick Chart, Short Term Recommendation (Intra-Day)
| Technical Parameters | Value | Interpretation | Recommendation* |
|---|---|---|---|
| Current Price | 1283 | Current Price < Yesterday’s Price | Bearish |
| Yesterday’s Price | 1383 | ||
| EMA 20 | 1328 | EMA 20 < EMA 50 | Bearish |
| EMA 50 | 1333 | EMA 50 > EMA 100 | Bullish |
| EMA 100 | 1331 | EMA 100 < MA 200 | Bearish |
| MA 200 | 1325 | 1. Current price < MA 200 2. All the EMAs are in crossing down region. Refer the photo attached. | 1. Bearish 2. Waiting couple of hours to see whether the token pulls back or slips further down, would be wise. |
| MACD 19 39 9 | MACD is below Signal Line | Bearish | |
| RSI 14 | 30.54 | RSI 14 < RSI 200 | RSI 14 is close to 30. Short term long position could be taken. |
| RSI 200 | 46.44 | RSI has plenty of room to increase further – Bullish | |
| Volume | Initially price increased with the decrease in volume (Light Blue Line) and then price falls sharply (Red Line) with the decrease in volume | Bearish | |
| Resistance 1 | 1385 | ||
| Resistance 2 | 1572 | ||
| Support 1 | 1224 | ||
| Support 2 | 1041 | ||
| Position | Short | ||
| Entry Price | 1300 | Wait, until the price is retraced to 23.6% Fibonacci level i.e USDT 1300. At 23.6% level, if any bearish candle pattern forms (e.g. Shooting Star, Hanging Man, Dark Cloud Cover or Bearish Engulfing), take position, else wait for 38.2% retracement i.e. USDT 1318 and look for the aforementioned candle stick pattern. | |
| Stop Loss | 1322 | ||
| Leverage | 10x | Owing to the market uncertainty, keep lowest possible leverage. | |
| Take Profit 1 | 1268 | ||
| Take Profit 2 | 1237 | ||
| Take Profit 3 | 1219 | ||
| Date | 28-Sep-2022 | ||
| Time | 09:46 IST |
All the three EMAs are crossing down, implying a strong bearish move. The price may retrace to 23.6% level i.e. 1298 or 38.2% level i.e 1318 and then it may fall again.
In Day-Chart, Shooting Star has formed, implying a further decline in price.
*Recommendations are speculative. Getaka Doesn’t bear any responsibility if there is any financial loss whatsoever
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