ETH/USDT Technical Analysis and Price Prediction

Current Price and Trend

Ethereum's current price is $2,492.33 with a slight decrease of 0.06% in the last 24 hours. The overall trend in the 4-hour timeframe is bearish, with temporary corrections toward resistance levels ¹.

Key Support and Resistance Levels

- *Support Levels:*

- $2,480 (strong support zone)

- $2,150-$2,200 (demand zone for potential upward move)

- $3,200-$3,250 (crucial support area)

- *Resistance Levels:*

- $2,600 (resistance level)

- $2,780-$2,800 (bearish confirmation level)

- $2,900 (key resistance level)

- $3,400-$3,450 (immediate resistance area)

- $3,800-$4,000 (breakout confirmation target range)

Trade Plan

- *Long Position:*

- Entry: Above $3,206 USDT with strong confirmation candle or at $2,582.66

- Take Profit: $3,300, $3,800-$4,000, or $4,500-$6,000

- Stop Loss: Below $3,140 USDT or $1/3 of the position

- *Short Position:*

- Entry: Below $3,141 USDT with strong bearish candle

- Take Profit: $3,070 USDT, $3,017 USDT

- Stop Loss: Above $3,220 USDT

Price Prediction

- *Short-Term:*

- Potential bullish trend forming with targets at $2,550-$2,580

- Possible rebound to $2,680-$2,815

- *Long-Term:*

- Targets at $4,500-$6,000 based on cup-and-handle pattern

- Potential targets at $6,000-$7,500, $9,500-$11,000, or $13,500-$15,000 based on Fibonacci extensions

Market Sentiment

The market sentiment is cautiously bullish, with potential risks due to external news or macroeconomic factors. Institutional adoption, deflationary ETH (EIP-1559), and staking yield (ETH 2.0) could support the price ².