$ETHFI Market Trend: Bearish, Breaking Down from Consolidation
Trade Signal
Entry 1 (Short): $1.130 (Current zone - for immediate continuation)
Entry 2 (Short): $1.143 (Short on failed pullback to the middle band)
TP1: $1.121
TP2: $1.110
TP3: $1.100
TP4: $1.090
Stop-Loss: $1.154 (Above recent resistance high)
Why This Trade?
ETHFI is in a clear downtrend, trading below the middle Bollinger Band. The recent price action shows a failed attempt to rally, with a sharp rejection from the middle band, which confirms strong selling pressure. The bands have now started to expand downwards, suggesting a high probability of a further decline.
Support & Resistance Levels
Support: $1.121 • $1.110 • $1.100
Resistance: $1.143 • $1.154 • $1.160
Market Update for ETHFI (ETHFI)
ETHFI is currently displaying strong negative momentum, with prices breaking down from a recent consolidation range. The overall market sentiment for ETHFI is bearish, with traders anticipating further downward movement if current support levels break.
