$ETH is trading near the 24-hour low and below all key moving averages, indicating strong bearish momentum.
Watch Levels:
A break below $3,224.31 could lead to further declines towards $3,200 or lower.
If ETH breaks above $3,243.79, it could attempt to retest $3,339.
Trading Strategy:
Short Position: If ETH breaks below $3,224.31 with high volume, targeting $3,200.
Long Position: If ETH bounces above $3,243.79 and holds, targeting $3,300 or higher.
Support and Resistance Levels:
Immediate Support: $3,224.31 (current low).
Next Support: $3,200.00 (psychological level).
Immediate Resistance: $3,243.00 (MA(7) level).
Key Resistance: $3,339.00 (24-hour high).
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