$ETH
The Ethereum (ETH) 4-hour chart shows a clear downtrend with lower highs and continued breakdowns of support. The price is currently near the 1,841 support level, which is critical for the next move.
Current Trend: Bearish with lower highs at 2,374.99, 2,191.31, and 2,112.60.
Key Levels:
Resistance: 1,950 (potential reversal zone if reclaimed)
Support: 1,841 (current level), followed by 1,750 if breakdown continues.
Possible Scenarios:
Bullish Reversal: A breakout above 1,950 could push the price toward 2,000 and 2,100.
Further Decline: If 1,841 breaks, the next target would be 1,750.
Recommended Trading Plan:
Entry: Short below 1,841 or long after a confirmed breakout above 1,950.
Take Profits:
For shorts: 1,750 as the next major support.
For longs: Initial target at 2,000, followed by 2,100.
Stop Loss:
For shorts: Above 1,950 to protect against trend reversal.
For longs: Below 1,841 to limit downside risk.
This approach balances risk while taking advantage of the ongoing trend and potential breakout. Let me know if you want assistance with real-time updates or refined strategies.
