Row 8211

Row ID: 8211 | Dataset Entry | Axioma AXP Content Repository

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Everyone has their own crystal balls and predictions. Here's my 2-cent technical analysis of the ETH-USDT pair using a 1D chart and a 1W chart.

The lesser indicator you use is better for stress-free trades. However, everyone has their own strategies and set of indicators to predict the price. I use MACD and RSI on the phone app (Binance app) and I use Order Block Detector (OBD) and Order Block Finder (OBF) on desktop (Trading View).

​

[ETH 1-Day Chart](https://preview.redd.it/cz56q0jfc91d1.jpg?width=1435&format=pjpg&auto=webp&s=c55806e965bc3be0dd6c9ce9d767540c59109e7f)

**ETH 1D Chart:** ETH has bounced back from the strong support zone of $2,850-$2,950 level. Both OBD and OBF indicators have shown this range as a support zone. If you see "1" on the above chart, it's the first resistance (based on a trendline) - at $3,400-$3,500. The second big resistance is at $4,000, which was rejected in March 2024.

​

[ETH 1-Week Chart](https://preview.redd.it/4gi69mxhc91d1.jpg?width=1433&format=pjpg&auto=webp&s=66f304f177f9e457a8ff0399fca70ae869645ae9)

**ETH 1W Chart:** $3,400-$3,500 is the next big resistance zone in 1W candle chart. If ETH has to continue the bullish trend in weekly chart, it should close this week's candle above $3,300. Otherwise, we can expect a gradual decrease in price towards $2,400, until a positive news arrives.

Nearly a week left for May's Ethereum ETF approval deadline. Nobody knows when SEC approves (or rejects) the ETFs. There are some applications delayed to August 2024 as well.

Another factor to consider is, after the Dencun upgrade, transaction costs are reduced on Ethereum as well as Layer 2 chains that implemented ETH Blobs. Activities were moved to L2 chains, and the gas fee reduced on mainnet. This also negatively affected the network in terms of ETH burning. ETH is now burning less tokens than before, hence, it's inflationary now. Inflation is very low, but "the deflationary" term is not being used in the last 1-2 months.

What do you expect? Profit booking or God candles incoming?

FieldValue
text Everyone has their own crystal balls and predictions. Here's my 2-cent technical analysis of the ETH-USDT pair using a 1D chart and a 1W chart. The lesser indicator you use is better for stress-free trades. However, everyone has their own strategies and set of indicators to predict the price. I use MACD and RSI on the phone app (Binance app) and I use Order Block Detector (OBD) and Order Block Finder (OBF) on desktop (Trading View). ​ [ETH 1-Day Chart](https://preview.redd.it/cz56q0jfc…
label r/ethtrader
dataType post
communityName r/ethtrader
datetime 2024-05-18
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url_encoded Z0FBQUFBQm5Lak9ITEt6SEFwSHA0VDFLMlFDTW1MVFF3VjJvemVhbnJGTHZaa09vR3doUGNDeFg2WXNqNDloVHZ3bzUwemVINUVGalU5Sm1EdHJrYl8wNXpDRGh1akdNYnB4TEI3dUxaa212d0MtQW9hUjE4TUFrYmQ1dDRZdk1KWkl1VUxRRFFXejYyNWljZW03enI3YVhlcHZJN1R2amtCQnRvV0NEYVYzTUxEMEZqbWswNWktcFBUUWc1NlM1RS1XTGxxOVdRQTJrb3dvNmQzS0VJRC1pVzJwckZQc3F3UT09

Raw Record

{
  "text": "Everyone has their own crystal balls and predictions. Here's my 2-cent technical analysis of the ETH-USDT pair using a 1D chart and a 1W chart.\n\nThe lesser indicator you use is better for stress-free trades. However, everyone has their own strategies and set of indicators to predict the price. I use MACD and RSI on the phone app (Binance app) and I use Order Block Detector (OBD) and Order Block Finder (OBF) on desktop (Trading View).\n\n​\n\n[ETH 1-Day Chart](https://preview.redd.it/cz56q0jfc91d1.jpg?width=1435&format=pjpg&auto=webp&s=c55806e965bc3be0dd6c9ce9d767540c59109e7f)\n\n**ETH 1D Chart:** ETH has bounced back from the strong support zone of $2,850-$2,950 level. Both OBD and OBF indicators have shown this range as a support zone. If you see \"1\" on the above chart, it's the first resistance (based on a trendline) - at $3,400-$3,500. The second big resistance is at $4,000, which was rejected in March 2024.\n\n​\n\n[ETH 1-Week Chart](https://preview.redd.it/4gi69mxhc91d1.jpg?width=1433&format=pjpg&auto=webp&s=66f304f177f9e457a8ff0399fca70ae869645ae9)\n\n**ETH 1W Chart:** $3,400-$3,500 is the next big resistance zone in 1W candle chart. If ETH has to continue the bullish trend in weekly chart, it should close this week's candle above $3,300. Otherwise, we can expect a gradual decrease in price towards $2,400, until a positive news arrives.\n\nNearly a week left for May's Ethereum ETF approval deadline. Nobody knows when SEC approves (or rejects) the ETFs. There are some applications delayed to August 2024 as well.\n\nAnother factor to consider is, after the Dencun upgrade, transaction costs are reduced on Ethereum as well as Layer 2 chains that implemented ETH Blobs. Activities were moved to L2 chains, and the gas fee reduced on mainnet. This also negatively affected the network in terms of ETH burning. ETH is now burning less tokens than before, hence, it's inflationary now. Inflation is very low, but \"the deflationary\" term is not being used in the last 1-2 months.\n\nWhat do you expect? Profit booking or God candles incoming?",
  "label": "r/ethtrader",
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  "datetime": "2024-05-18",
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