ETH/USDT Technical Analysis Update
On the 15-minute timeframe, ETH/USDT shows bullish momentum building up. The RSI is at 6, which indicates that Ethereum is currently oversold in the short term. Such a low RSI often suggests that sellers have dominated the recent candles, but a potential rebound could follow as buying pressure returns. Interestingly, the 50 EMA (Exponential Moving Average) remains above the 200 EMA, confirming that the overall short-term trend still favors the bulls. This setup suggests that while a short pullback has occurred, the larger structure supports an upside continuation once momentum recovers.
Switching to the 1-hour timeframe, the RSI stands at 31, still close to the oversold zone, signaling that the market might be approaching a reversal point. The 50 EMA continues to stay above the 200 EMA, which aligns with a bullish crossover pattern known as the Golden Cross. This means the broader trend is still positive despite temporary weakness in price action.
In summary, both the 15-minute and 1-hour charts reflect short-term selling pressure within an overall bullish structure. If RSI values begin to climb while the EMA alignment stays bullish, ETH could soon bounce back toward higher resistance levels. Traders should monitor RSI recovery and volume spikes as key signs of a potential trend continuation in the upward direction.
