š $ETH/USDT ā Short Setup After Resistance Rejection
$ETH recently retested the $3,850 resistance zone but failed to break higher, forming a potential double top on the 4H chart. With bearish pressure mounting and $BTC showing weakness below $117K, $ETH could face a correction in the near term.
š» SHORT Entry Zone:
$3,730 ā $3,850
šÆ Take Profit Targets (TP):
$3,660
$3,590
$3,480
$3,360
$3,250+
ā Stop-Loss (SL):
$3,970
š Technical Indicators:
RSI showing bearish divergence on the 4H
Price forming a lower high near major resistance
Volume decreasing on upward pushes ā momentum fading
š Note: Keep an eye on $BTC ā any sharp breakdown from current levels may accelerate $ETH 's downside move.
#BTCvsETH #ETHBreaks3700 #StablecoinLaw #NFTMarketWatch #StrategyBTCPurchase