"Good morning! Let's dive into the Ethereum trend analysis. As I opened Binance this morning, I noticed an intriguing price movement - neither fully bullish nor bearish. Here are three potential scenarios:
Scenario 1: Downtrend Testing
If ETH breaks below $2650, it might test the support zones at $2600-$2620 and $2550-$2580. This could lead to panic selling.
Scenario 2: Weak Rebound
If ETH stabilizes above $2680, we might see a slight bounce towards $2700-$2720 and $2750. However, without major news support, the rebound might be weak.
Scenario 3: Extreme Volatility
Unexpected events like Mt. Gox creditor movements or SEC stablecoin crackdowns could trigger a flash crash, potentially sending prices below $2500.
My Trading Strategy
1. Bearish View (Shorting): Sell zone $2660-$2680, stop loss at $2700, target $2600-$2630.
2. Bullish View (Buying):
- Bottom fishing: Buy around $2550, stop loss at $2500, target $2600-$2650.
- Breakout: Wait for stability above $2750, buy on pullback, stop loss at $2680, target $2800.