๐ $ETH/USDT โ Ethereum Struggles to Reclaim Momentum โ ๏ธ
Ethereum ($ETH) has faced intense downward pressure after failing to sustain above the $2,800 mark. A sharp rejection from $2,879 led to a major breakdown, touching lows of $2,436 before finding minor support and consolidating near $2,531 on the 4H chart.
๐ Technical Analysis
โข Bearish Crossover: Price is trading below MA(25) = $2,642 and MA(99) = $2,585, indicating a bearish trend continuation.
โข Support Zone: $2,435 โ $2,490 acted as a bounce region with strong buying pressure seen around the lows.
โข Resistance Zone: Immediate resistance at $2,585 (MA-99), followed by $2,640.
โข Current Trend: Consolidation after a steep fall โ low volume bounce with weak bullish structure.
๐ฏ Trading Plan
๐ด Short-Term Bearish Setup
โข Entry (Short): $2,540 โ $2,580
โข TP1: $2,490
โข TP2: $2,460
โข SL: $2,615
๐ข Reversal Play (Wait for Confirmation)
โข Long Entry: Only on breakout and close above $2,590 (MA-99) with volume
โข TP1: $2,640
โข TP2: $2,705
โข SL: $2,525
๐ Caution: ETH is currently weak against key moving averages. Monitor Bitcoin closely โ further BTC drops may drag ETH lower. Use strict risk management in this volatile range.
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