Altcoins News
By Pankaj K
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What the 4-Hour Chart Actually Shows. Zoom into the 4-hour timeframe and the picture gets more interesting.
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Futures Positioning Muddies the Picture. Here's where it gets complicated. The Taker Buy Sell Ratio in the futures market is sitting below 1.
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Ethereum is stuck. Price has stabilized near $1,850 after getting hammered down from May highs around $2,400, and right now the market is basically holding its breath waiting for…
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The daily chart tells a pretty clear story. Ethereum clawed its way back after a brutal drop to the $1,500 demand region, and buyers came in hard at that level.
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Zoom into the 4-hour timeframe and the picture gets more interesting. Ethereum has been carving out a rising channel, with the lower trendline acting as dynamic support that…
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That kind of price action — rising support meeting flat resistance — usually resolves with a sharp move in one direction.
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The RSI has recovered from oversold territory on the daily chart, now sitting above 50, which is at least a decent sign.
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Here's where it gets complicated. The Taker Buy Sell Ratio in the futures market is sitting below 1.0, which means aggressive sellers are still slightly outnumbering buyers.
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See also: BlackRock Hits $2.93 Billion in Tokenized Assets With Ethereum Leading at $1.1 Billion
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That said, it's not all bad news. The 30-day moving average of that same ratio is trending upward, which means selling pressure is gradually easing.
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So sentiment right now is cautiously optimistic. Not bullish. There's a difference. Traders are watching, not committing.
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The interplay between the 4-hour rising channel and the horizontal resistance at $1,850 is probably the most important thing to watch short-term. Ethereum is compressed.
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Longer-term, the 100-day and 200-day moving averages between $2,000 and $2,200 are the real test. Ethereum hasn't reclaimed those levels.
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More context: Bank of Thailand Tightens USDT Surveillance With Data Analytics Push
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Buyers have done enough to stay in the game. They defended $1,500 aggressively, they've held the rising trendline on the 4-hour chart, and the RSI is in decent shape.
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