ETHUSD is showing signs of a strong intraday breakout after a prolonged downtrend, reclaiming the 1795.53 level with a solid bullish candle. This breakout follows a period of consolidation and suggests a possible bullish reversal attempt in the short term.
After finding a firm base near the 1473.20 support zone, ETHUSD consolidated for several days with relatively low volatility. Today, a large bullish candle closed above the Tenkan-Sen and Kijun-Sen lines, also piercing through the Kijun baseline and touching the Senkou Span A from below. Price is now attempting to approach the edge of the Ichimoku Cloud, indicating a potential trend reversal if momentum continues.
The Bulls Power (13) indicator has surged to 184.17, a clear sign of increasing buyer strength. Volume has also significantly picked up, adding conviction to the current bullish breakout. The recent price action, especially the strong close above the 1795.53 level, signals that short-term momentum has shifted in favor of the bulls.
Market Observation & Strategy Advice
1. Resistance Levels: 1914.41 – Major resistance and the lower edge of the daily Ichimoku Cloud.
2. Current Position: 1795.53 – A successful close above this level reinforces the bullish momentum.
3. Support Level: 1473.20 – Key daily support and recent bottom.
4. Momentum Indicators: Bulls Power: Rising sharply to 184.17, showing strong bullish pressure. Ichimoku Cloud: Price is approaching the lower boundary, with potential breakout if upward momentum sustains.
5. Strategy Advice:
Market Performance:
Crypto Last Price % Change
BTCUSD 93,556 −0.19%
LTCUSD 83.13 −0.23%
Today’s Key Economic Calendar:
DE: Ifo Business Climate
US: Durable Goods Orders MoM
US: Existing Home Sales
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. All investments involve risk and past performance is no guarantee of future results. Please consult your financial advisor for personalized investment advice.
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