🚨 ETHEREUM IN FREE FALL! 📉 HEADING TOWARDS THE CRITICAL SUPPORT OF 1,600?
The daily chart of ETH/USDT shows an acceleration of selling pressure in the last session, currently trading at 1,703.53 with a daily loss of -1.91%. The bears are in absolute control, dragging the asset to local lows.
🔍 Trend Analysis and Indicators Trend: Strongly bearish in the short and medium term. The price is trading well below its fast moving average MA(7), located at 1,730.92, which acts as an unyielding immediate dynamic resistance. The structural bearish control is backed by the upper resistances of the intermediate MA(25) (1,812.04) and the macro MA(99) (2,113.25). Bollinger Bands: The price action is deeply developing in the lower volatility band, moving below the middle line (MB: 1,753.24) and pressing the lower band (DN: 1,491.40). The technical bias remains tilted downward due to the lack of buying absorption volume. Structural Floor: The definitive and minimum institutional support of the current structure is firmly located at 1,505.68.
💡 Trading Strategy: Buy or Sell?
Buy (Spot / Long)?: High-risk intraday scenario. Buyer entries with an acceptable risk/reward ratio would only be justified if the price visits the psychological zone between 1,600 - 1,650 and leaves a clear absorption wick. Management: Mandatory to set a protective Stop Loss below 1,580.
Sell (Short)?: Trade with high technical probability favoring the market's momentum. Short positions are optimal on every failed retest towards the MA(7) (~1,731) or the central base MB (~1,753) upon signs of exhaustion, projecting targets towards previous lows.
#ETH #TechnicalAna #CryptoTrading May the Lord bless and prosper those who trade here, in the name of Jesus, for Your word says: "The silver is mine, and the gold is mine, says the Lord of hosts." Haggai 2:8 RV1960-T -
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