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🔥 ETH/USDT Market Analysis | April 16 Update 🔥
Current Price: $1,561.58
📈 24H High: $1,614.93
📉 24H Low: $1,539.38
📊 Volume: 256.94K ETH
💰 Turnover: 405.72M USDT
🕒 Timeframe: 1H Chart
🔍 Market Overview:
Ethereum is showing increased volatility as it continues testing crucial support levels. After reaching a high of $1,614, ETH faced heavy resistance and dropped back below key moving averages. This pullback highlights short-term bearish pressure.
📌 Technical Highlights:
MACD: Slightly negative at -0.10 — signaling weak momentum and indecision.
RSI Levels: All RSI indicators (6, 12, 24) are below 45 — showing reduced buying power.
KDJ: Bearish momentum building, with %K and %D both turning downward.
Volume: A spike in red candles near resistance shows seller dominance around $1,600.
🧠 Future Predictions by Timeframe:
⏱ Short-Term (1H): ETH may retest $1,540 support. Resistance remains at $1,580–1,600.
🕓 Mid-Term (4H): Bearish structure unless price reclaims $1,600+. Watch $1,500 as next key level.
📅 Long-Term (1D+): Below $1,500 could push ETH toward $1,450–1,480. Recovery starts above $1,620.
💡 Final Thoughts:
ETH is in a critical range right now. Bearish momentum is dominant, but any bullish breakout above $1,600 could flip the trend. Stay cautious and track volume near resistance and support zones.