$ETH Market Trend: Strong Bearish Pressure, Continuing to Fall
Trade Signal
Entry 1 (Short): $3,490 (Current zone - for immediate continuation if it breaks below)
Entry 2 (Short): $3,510 (Short on pullback to minor resistance)
TP1: $3,470
TP2: $3,450
TP3: $3,430
TP4: $3,410
Stop-Loss: $3,625 (Above recent rejection point)
Why This Trade?
Ethereum is in a powerful downtrend, consistently making lower lows and struggling to find support. The price is well below its key moving average, and the Bollinger Bands are expanding downwards, confirming the strong selling momentum. This indicates that sellers are in firm control, and further price drops are likely.
Support & Resistance Levels
Support: $3,470 • $3,450 • $3,430
Resistance: $3,510 • $3,530 • $3,550
Market Update for ETH (ETH)
Ethereum is experiencing intense selling pressure, with its price declining significantly after a recent drop. Volume is high during the sell-off, confirming the strength of the downward move. The overall market sentiment for ETH is extremely bearish, and caution is advised as further price depreciation is expected.
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