Ethereum Technical Analysis – 1-Hour Candle Stick Chart, Short Term Recommendation (Intra-Day)
| Technical Parameters | Value | Interpretation | Recommendation* |
|---|---|---|---|
| Current Price | 1322 | Current Price < Yesterday’s Price | Price is fluctuating between 1310 to 1340. Grid Trading might prove profitable in this scenario with 4 to 5 grids. |
| Yesterday’s Price | 1339 | ||
| EMA 20 | 1328 | EMA 20 = EMA 50 | Neutral |
| EMA 50 | 1328 | EMA 50 = EMA 100 | Neutral |
| EMA 100 | 1327 | EMA 100 ≈ MA 200 | Neutral |
| MA 200 | 1319 | Current price > MA 200 | Bullish |
| MACD 19 39 9 | MACD just above zero line | Neutral | |
| RSI 14 | 46 | RSI 14 ≈ RSI 200 | Neutral |
| RSI 200 | 48 | RSI has plenty of room to increase or decrease further – Neutral | |
| Volume | 10.32 M | Volume decreased while price remained flat | Neutral |
| ATR 14 | 16.52 | ATR 14 ≈ Yesterday’s ATR 14 | Market is consolidating. Wait for break-out |
| Yesterday’s ATR 14 | 16.75 | ||
| Resistance 1 | 1342 | ||
| Resistance 2 | 1473 | ||
| Support 1 | 1280 | ||
| Support 2 | 1241 | ||
| Position | Short | ||
| Entry Price | 1321 | Price touched Fibonacci 61.8% level 7 times and unable to cross past the level in upward direction. Price may fall even further | |
| Stop Loss | 1353 | ||
| Leverage | 5x | Owing to the market uncertainty, keep lowest possible leverage. | |
| Take Profit 1 | 1307 | ||
| Take Profit 2 | 1282 | ||
| Take Profit 3 | 1253 | ||
| Date | 30-Sep-2022 | ||
| Time | 09:30 IST |
RSI 14 has support and resistance both at 53. Until this level is breached, price may remain flat for prolonged time.
Time: 16:18 IST
Ethereum price again hits the resistance at 61.8% Fibonacci Level for the 6th time in 15-minutes chart and bounces down. This confirms our earlier recommendation of taking short position. Sell off 50% of holding at price level USDT 1307.
*Recommendations are speculative. Getaka Doesn’t bear any responsibility if there is any financial loss whatsoever
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