#ETH /USDT 4-hour chart

The bulls will try to defend $2,111 with all their might as a break below could take the pair down to $1,754.

If the price bounces from $2,111, the bulls will have to push the pair above the 20-day EMA again, which would mean that the short-term correction may have ended.

The pair may find support at $2,111, but the bounce is expected to face strong selling on a break of $2,323. If the price sharply turns down from $2,323, the bears will try to push the pair below $2,111 again.

Conversely, if the bulls successfully defend $2,111, the pair may form a range in the near term. The pair may fluctuate between $2,111 and $2,323 for some time. Selling pressure may ease on a close above the 50-SMA.