ETH/USDT Technical Analysis Highlights: Strong Trend with Caution on Supports

An educational 30-minute analysis of ETH/USDT indicates that the overall market trend is bullish on the 30-minute timeframe, with confirmation from medium-term timeframes. The Relative Strength Index (RSI) stands at 52.08, suggesting a balanced state between buyers and sellers. The Money Flow Index (MFI) is at 46.05, indicating limited capital entering the market. The trend strength, according to the Average Directional Index (ADX), is at 37.68, signifying a strong prevailing trend. Trading volume is approximately 1,619,024.5 USD, reflecting adequate liquidity in the market. The asset is in a consolidation phase with sideways volatility, signaling market indecision and accumulation for the next move. Support levels are identified between 2,589.79 and 2,609.34 USD, while resistance is at around 2,703.00 USD. Educational Points: - Strong Trend: A high ADX value confirms an active and robust trend, useful for trend-following strategies. - Potential Reversal: Divergence signals and weakening indicators in MACD and MFI suggest caution; a break below support could lead to correction. - Risk Management: Falling below the support zone might increase selling pressure. Setting stop-loss orders slightly below 2,589.79 USD is advisable. For further learning in technical analysis and trading strategies, follow the @climaxpy channel.