ETHFI/USDT Technical Outlook
Looking at the ETHFI chart, we see that the wide-angle downtrend pattern previously analyzed has broken upwards. Additionally, it is clear that the price of the coin has consolidated sideways for a while after the breakout. Moreover, the price has tested a new downtrend line running at a tighter angle. This area is a key zone for determining the short-term direction.
The price is now trading at the downtrend resistance level of $1.16 and is having difficulty breaking above it. In case of a breakout, the levels of $1.43 and $1.56 will be the next resistance targets. These levels correspond to previous formation peaks and horizontal resistance zones.
In the event of a possible pullback, the price is expected to hold around the $1.12 level initially, followed by $1.00 as a psychological support. Below this, the support levels of $0.880 and $0.807 should be monitored. These two final levels are important as they coincide with horizontal support and previous price action zones.
A broader upward movement could emerge for ETHFI if the current downtrend breaks with momentum. Otherwise, this trendline will continue to act as resistance.
Summary:
- The wide descending trend was broken, and the price is now testing a tighter trendline.
- Current resistance: $1.16 → If broken, targets are $1.43 and $1.56
- Support levels in case of pullback: $1.12 → $1.00 → $0.880 → $0.807
- If the current trend breaks, bullish momentum could accelerate; if not, downward pressure may continue.
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
