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๐ ETH/USDT Technical Outlook (4H Chart) ๐
Ethereum is currently trading around $4,447, showing signs of strength even after a slight retracement of -0.62%. Letโs break down the current market structure from a traderโs perspective:
๐น Price Action Update
ETH has been moving inside a descending channel, with repeated tests of both the upper and lower boundaries. This type of price structure often signals accumulation before a breakout.
๐น Key Zones to Watch
Upper Zone (~$4,900 โ $5,000): Strong resistance. A clean breakout above this level could open the doors for ETH to retest $5,200+.
Lower Support Zone (~$4,100 โ $4,200): Solid demand area where buyers have previously stepped in aggressively.
๐น Bullish Bias
Currently, ETH is showing signs of a potential bullish breakout from the descending channel. If price sustains above the mid-range, we may see an impulsive push upward. A healthy retest followed by strong volume confirmation would make the breakout more reliable.
๐ Traderโs Tip:
Patience is key. Wait for confirmation before entering. Chasing early often leads to stop hunts. A safer entry could be after a confirmed breakout and retest.
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