Disclaimer: This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.
Time Frame: 1-hour
Market Analysis: The 1-hour ETHUSD chart exhibits a weakening bullish trend with the Relative Strength Index (RSI) indicating a slight oversold condition and relecting bearish divergence. The price may move up to the point of control, which could act as resistance, potentially leading to a rejection. Key support levels are present at 2,894; if breached, the price could dip to 2,802-2,747.
Key Levels:
Resistance: 3149.00
Support: 2894.00
target: 2802.00 - 2747.00
Trading Bias: The ETHUSD price continues to consolidate within a rising wedge pattern, indicating a potential reversal.
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