Technical analysis by readCrypto about Symbol ETH on 7/9/2025
readCrypto
Hello, traders. If you "Follow", you can always get the latest information quickly. Have a nice day today. ------------------------------------- (ETHUSDT 1D chart) It is showing an upward breakout of the important zone of 2419.83-2706.15. We need to see if the price can be maintained by rising above the Fibonacci ratio of 0.5 (2788.93). If so, it is expected to rise to the resistance zone of 3265.0-3321.30. The important zone of 2419.83-2706.15 is the support and resistance zone that can lead to a full-fledged uptrend. Therefore, if it falls below this zone, we should stop trading and watch the situation. - Thank you for reading to the end. I hope you have a successful trade. -------------------------------------------------- - This is an explanation of the big picture. (3-year bull market, 1-year bear market pattern) I will explain more details when the bear market starts. ------------------------------------------------------#ETHUSDT The key is whether the uptrend can continue in the triangle channel formed by the mid- to long-term trend line and the short-term trend line. If so, it is expected to create a new wave. Since the StochRSI indicator is in the overbought zone, it will soon show a downward trend. At that time, if the price is maintained above the mid- to long-term trend line, that is, if it shows support near 2921.73, it is expected to create an uptrend. The HA-High ~ DOM(60) section of the 1W chart is formed in the 3265.0-3644.71 section. The HA-High ~ DOM(60) section of the 1M chart is formed in the 3321.30-3438.16 section. Therefore, if it breaks through the 3321.30-3438.16 range (up to 3265.0-3644.71), there is a possibility of a sharp rise. Therefore, you should be careful about volatility. As I keep saying, the conditions for breaking through the important support and resistance zone upward are: - The K of the StochRSI indicator should not be in the overbought zone, and should maintain the state of K > D. - The PVT-MACD oscillator indicator should maintain an upward trend. (If possible, it should be above the 0 point.) - The OBV indicator of the Low Line ~ High Line channel should maintain an upward trend. (It is good if the OBV indicator maintains an upward trend above the High Line.) I think that the upward trend can continue only if the above conditions are met. If not, there is a high possibility that it will pretend to rise and fall.
