TECHNICAL ANALYSIS: $ETH/USDT
The chart is a 1-Hour candlestick chart for Ethereum ($ETH), as indicated by the 24h Vol(ETH) data. The price is currently at \text{\$3,857.76} and shows a clear reversal from a recent high.
Key Indicators:
* Moving Averages (MA): The current price (\text{\$3,857.76}) is trading significantly below the short-term MA(7) at \text{\$3,909.98} and the medium-term MA(25) at \text{\$3,923.22}. The short-term MA(7) is also positioned below the medium-term MA(25) and the long-term MA(99) at \text{\$3,935.64}, confirming a strong bearish momentum signal (a short-term 'death cross').
* Price Action: After a sharp rally to the 24h high of \text{\$4,110.00}, the price has experienced massive selling pressure, resulting in several large red candles. This shows a failed breakout attempt and a strong rejection, pushing the price back toward the 24h low of \text{\$3,821.64}.
* Support: The price is hovering just above the recent local low of \text{\$3,821.64}. A break below this level would confirm a deeper downtrend.
Short Trade Setup:
* Entry: \approx \$3,857.00 (Entering a short position at the current price, confirming the breakdown below MAs).
* TP 1 (Target Price 1): \approx \$3,820.00 (Targeting the retest and likely break of the recent swing low).
* TP 2 (Target Price 2): \approx \$3,750.00 (Next major structural and psychological support level).
* SL (Stop Loss): \approx \$3,925.00 (Placed just above the MA convergence area to invalidate the short thesis).
Short Outlook of Market:
The immediate market outlook for $ETH is bearish. The sharp sell-off from the highs and the decisive break below all key moving averages on the 1-hour chart indicate that sellers are dominant. A continuation of selling pressure is expected to retest the 24-hour low and potentially extend the decline.
