$ETH/USDT Market Update - Bearish Momentum Nearing Critical Levels

Key Levels

Current Price: $3,071.33

Immediate Support: $3,045.00

Next Support Levels: $3,000.00, $2,950.00

Resistance Levels: $3,100.00, $3,150.00

Trade Setup

Short Position Strategy:

Entry Zone: $3,080.00 - $3,100.00

Targets:

Target 1: $3,050.00

Target 2: $3,000.00

Target 3: $2,950.00

Stop Loss: $3,150.00

Technical Analysis

Ethereum (ETH/USDT) is under heavy selling pressure, breaking down from $3,150.00 and testing the $3,045.00 level. The current downtrend suggests further bearish continuation if the price fails to reclaim $3,100.00. However, should support at $3,045.00 hold, we might see a relief bounce toward $3,100.00 before resuming its decline.

Strategy Notes

Consider shorting within the $3,080.00 - $3,100.00 range to capitalize on further downside momentum.

Lock in profits progressively at each target level.

Place a stop loss above $3,150.00 to minimize risk and protect against sudden reversals.

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