90% Accurate Ethereum Technical Analysis (Short Term) – 28-Sep-2022

Ethereum Technical Analysis 28-Sep-2022
Ethereum Technical Analysis | Image: Phemex
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Ethereum Technical Analysis – 1-Hour Candle Stick Chart, Short Term Recommendation (Intra-Day)

Technical ParametersValueInterpretationRecommendation*
Current Price1283Current Price < Yesterday’s PriceBearish
Yesterday’s Price1383
EMA 201328EMA 20 < EMA 50Bearish
EMA 501333EMA 50 > EMA 100Bullish
EMA 1001331EMA 100 < MA 200Bearish
MA 20013251. 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 9MACD is below Signal LineBearish
RSI 1430.54RSI 14 < RSI 200RSI 14 is close to 30. Short term long position could be taken.
RSI 20046.44RSI has plenty of room to increase further – Bullish
VolumeInitially price increased with the decrease in volume (Light Blue Line) and then price falls sharply (Red Line) with the decrease in volumeBearish
Resistance 11385
Resistance 21572
Support 11224
Support 21041
PositionShort
Entry Price1300Wait, 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 Loss1322
Leverage10xOwing to the market uncertainty, keep lowest possible leverage.
Take Profit 11268
Take Profit 21237
Take Profit 31219
Date28-Sep-2022
Time09:46 IST
Ethereum Technical Analysis
Ethereum Technical Analysis - 28-Sep-2022
Ethereum Technical Analysis – 28-Sep-2022 | Image: Phemex

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.

Ethereum Technical Analysis - 28-Sep-2022. Shooting Star has formed, implying further price decline. Image: Phemex
Ethereum Technical Analysis – 28-Sep-2022. Shooting Star has formed in Day-Chart, implying further price decline. Image: Phemex

*Recommendations are speculative. Getaka Doesn’t bear any responsibility if there is any financial loss whatsoever

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