$ETH 📈 Trend Overview:
Primary Trend (Mid-Term): Strong bullish trend from July 9 to July 21.
Recent Movement: The price peaked above $3,800 and is now experiencing a correction or pullback.
Current Price: Around $3,567.86, with a minor decline of -0.54% in the latest 4-hour candle.
🔍 Key Observations:
Strong Rally:
From around $2,700 (July 9) to $3,800+ (July 21).
Clean series of higher highs and higher lows, indicating solid bullish momentum.
Pullback in Progress:
After reaching the top, price is now forming lower highs and lower lows in the short term.
Suggests profit-taking or a short-term bearish correction.
Support Zone:
Price is approaching a previous consolidation level around $3,550–$3,600, which may act as support.
If this zone holds, a bounce could occur.
🧭 Potential Scenarios:
✅ Bullish Case:
Support holds at $3,550–$3,600.
Reversal pattern (like bullish engulfing or hammer) confirms.
Could resume upward trend and retest $3,800+.
❌ Bearish Case:
Price breaks below $3,550, especially on high volume.
Could lead to deeper pullback toward $3,400 or $3,200 zones.
📌 Conclusion:
Trend: Bullish (medium term), but currently in a correction.
Watch $3,550–$3,600 zone closely — it's the key short-term pivot.
Confirmation of either a reversal or breakdown will guide the next move.
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