$ETH /USDT Approaching Oversold Levels – A Reversal in Sight?
Ethereum (ETH) is currently trading at $3,841.65, down by 3.16% in the last 24 hours, testing critical support levels. The 15-minute chart shows ETH nearing oversold territory with an RSI of 24.59, hinting at a potential bounce. The price is testing support at $3,836.84, with a key resistance zone at $3,875.59.
A strategic long entry is recommended around $3,843, targeting short-term gains with three take-profit levels: $3,860, $3,880, and $3,900. To safeguard against further downside, a stop loss is set at $3,830.
With $ETH at a decisive point, this setup offers a balanced risk-to-reward ratio. Stay vigilant as market sentiment and volume could fuel a quick rebound.