๐ **Update $ETH : Analysis and Trading Scenarios** ๐
๐ **Market Analysis**:
- **Downward Trend**: The market has shown a significant downside, with the price dropping from a high of 2721 to a low of 2569.
- **Increased Volatility**: The profile range has widened, indicating increased volatility.
- **New Key Levels**: The POC has dropped to 2590.1, and the Value Area has moved lower (2585.5 - 2640.8).
๐ฏ **Trading Scenarios**:
1. **Downward Continuation**: Watch for a break below 2585.5 on high volume. Target: supports below 2570. Stop loss: above 2590.1.
2. **Range Trading**: Buy near 2585.5 and sell near 2640.8, using tight stop losses.
3. **Bullish Reversal**: Watch for a reversal pattern or a breakout above 2715.6 on strong volume. Target: resistances above 2720. Stop loss: below POC.
๐ก **Trader Tips**:
- **Risk Management**: Use risk management strategies to protect yourself from adverse price movements.
- **Volume Monitoring**: Pay attention to volumes to confirm breakouts or reversals.