90% Accurate Ethereum Technical Analysis (Short Term) – 30-Sep-2022

Ethereum-Technical-Analysis-30-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 Price1322Current Price < Yesterday’s PricePrice is fluctuating between 1310 to 1340. Grid Trading might prove profitable in this scenario with 4 to 5 grids.
Yesterday’s Price1339
EMA 201328EMA 20 = EMA 50Neutral
EMA 501328EMA 50 = EMA 100Neutral
EMA 1001327EMA 100 ≈ MA 200Neutral
MA 2001319Current price > MA 200Bullish
MACD 19 39 9MACD just above zero lineNeutral
RSI 1446RSI 14 ≈ RSI 200Neutral
RSI 20048RSI has plenty of room to increase or decrease further – Neutral
Volume10.32 MVolume decreased while price remained flatNeutral
ATR 1416.52ATR 14 ≈ Yesterday’s ATR 14Market is consolidating. Wait for break-out
Yesterday’s ATR 1416.75
Resistance 11342
Resistance 21473
Support 11280
Support 21241
PositionShort
Entry Price1321Price touched Fibonacci 61.8% level 7 times and unable to cross past the level in upward direction. Price may fall even further
Stop Loss1353
Leverage5xOwing to the market uncertainty, keep lowest possible leverage.
Take Profit 11307
Take Profit 21282
Take Profit 31253
Date30-Sep-2022
Time09:30 IST
Ethereum Technical Analysis
Ethereum Technical Analysis 30-Sep-2022 | Image: Phemex
Ethereum Technical Analysis 30-Sep-2022 | Image: Phemex

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.

USDT 1342 to 1347 is acting as strong resistance in 15-minute chart. Price once hits this level, bounces down repeatedly. Ethereum Technical Analysis 30-Sep-2022 | Image: Phemex
USDT 1342 to 1347 is acting as strong resistance in 15-minute chart. Price once hits this level, bounces down repeatedly. Ethereum Technical Analysis 30-Sep-2022 | Image: Phemex

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

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