$ETH
Ethereum (ETHUSD) Faces Resistance at Key Supply Zone of $4,300 – $4,340
After a robust upward move, Ethereum (ETHUSD) is encountering resistance at the $4,300 – $4,340 supply zone, with early signs of bearish momentum building.
🔹 Key Price Levels:
Supply Zone (Resistance): $4,300 – $4,340
First Support Level: $4,177
Demand Zone (Support): $4,072 – $4,005
🔹 Market Analysis:
The price is facing challenges breaking through the $4,300 – $4,340 resistance, with sellers stepping in to defend this zone. If the rejection persists, a pullback toward the first support at $4,177 is likely. A decisive drop below $4,177 could lead to further downside, targeting the demand zone between $4,072 and $4,005.
🔹 Bearish Scenario:
Entry Point: Confirmed rejection at the supply zone ($4,300 – $4,340)
Profit Targets: $4,177 → $4,072
Stop Loss: Above $4,345
🔹 Bullish Scenario:
A clear breakout above $4,345 with sustained momentum could signal bullish continuation, potentially pushing Ethereum toward $4,400 or higher.
📊 Current Bias: Short-term bearish unless a strong breakout above $4,345 is confirmed.
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