$ETH #ETH 📈 Candlestick Chart Basics (for ETH)
If you’re looking at a candlestick chart (e.g., 1D, 4H, 1H), here’s how to interpret current patterns:
🟢 Bullish Signs
Support holding near ~$2,900: Buyers stepping in at this zone, preventing deeper breakdowns.
Oversold RSI on shorter timeframes sometimes signals relief bounces
🔴 Bearish Signs
Break below key short-term support (~$2,920) confirmed weaker momentum recently and suggests continued down pressure.
Candlestick formations such as bearish breaks or closes below SMAs/MAs (moving averages) can validate down moves.
MACD trending negative (“histogram below zero”) means momentum is still bearish.
📌 Key Levels Based on Price Action
✔ Support Levels
~$2,800 — psychological near-term support
~$2,650 — deeper structural support if breakdown extends
✖ Resistance Levels
~$2,920 — short-term resistance (near moving average region)
$3,000–$3,100 — next major resistance cluster above short-term zone
