๐ $ETH/USDT โ 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.
๐ป SHORT Entry Zone:
$3,730 โ $3,850
๐ฏ Take Profit Targets (TP):
$3,660
$3,590
$3,480
$3,360
$3,250+
โ Stop-Loss (SL):
$3,970
๐ Technical Indicators:
RSI showing bearish divergence on the 4H
Price forming a lower high near major resistance
Volume decreasing on upward pushes โ momentum fading
๐ Note: Keep an eye on $BTC โ any sharp breakdown from current levels may accelerate $ETH 's downside move.
#BTCvsETH #ETHBreaks3700 #StablecoinLaw #NFTMarketWatch #StrategyBTCPurchase