📉 $ETH/USDT – Ethereum Struggles to Reclaim Momentum ⚠️
Ethereum ($ETH) has faced intense downward pressure after failing to sustain above the $2,800 mark. A sharp rejection from $2,879 led to a major breakdown, touching lows of $2,436 before finding minor support and consolidating near $2,531 on the 4H chart.
🔍 Technical Analysis
• Bearish Crossover: Price is trading below MA(25) = $2,642 and MA(99) = $2,585, indicating a bearish trend continuation.
• Support Zone: $2,435 – $2,490 acted as a bounce region with strong buying pressure seen around the lows.
• Resistance Zone: Immediate resistance at $2,585 (MA-99), followed by $2,640.
• Current Trend: Consolidation after a steep fall – low volume bounce with weak bullish structure.
🎯 Trading Plan
🔴 Short-Term Bearish Setup
• Entry (Short): $2,540 – $2,580
• TP1: $2,490
• TP2: $2,460
• SL: $2,615
🟢 Reversal Play (Wait for Confirmation)
• Long Entry: Only on breakout and close above $2,590 (MA-99) with volume
• TP1: $2,640
• TP2: $2,705
• SL: $2,525
📌 Caution: ETH is currently weak against key moving averages. Monitor Bitcoin closely — further BTC drops may drag ETH lower. Use strict risk management in this volatile range.
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