Coin Name: $ETH
Position: Short
Entry Price: 2,575
On the 1-hour timeframe, ETH is forming a megaphone pattern, with RSI currently holding in the supply zone—indicating potential selling pressure. On the 15-minute chart, RSI is oversold, suggesting a short-term bounce. ETH may move slightly higher to tap into the nearby order block, but if selling pressure resumes, a move to the downside is likely to follow.
On the 12-hour timeframe, there’s significant liquidity positioned above ETH's current price level. This suggests a potential upward move as ETH may seek to capture that liquidity before establishing its next directional trend.
On the 1-hour timeframe, USDT.D is moving within an ascending channel. A slight pullback is likely, potentially forming a W pattern accompanied by bullish divergence. If this plays out, a move to the upside is expected. An upward move in USDT.D typically signals risk-off sentiment, which could be negative for the broader crypto market.
Leverage: 5X
Targets:
1st TP 2,480
2nd TP 2,420
3rd TP 2,330
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$ETH