$ETH
Current Overview

  • Price: $3,034.07

  • Decline: ~7.17% from the previous close

  • Market Sentiment: Bearish pressure, with notable selling activity driving the price downward.

Setup Analysis

1. Liquidity Areas

  • Above Current Price (Resistance):

    • $3,100–$3,150: Significant liquidity area from recent highs. Traders who shorted the last swing are likely placing stops here.

    • $3,200: A psychological round number that may act as strong resistance.

  • Below Current Price (Support):

    • $3,000: A key level of liquidity, as it marks a psychological round number and the start of a previous demand zone.

    • $2,950: Another liquidity pocket from where the price rebounded last week.

2. Supply and Demand Zones

  • Supply Zone (Potential Resistance):

    • $3,100–$3,180: An area of heavy selling in previous sessions. Sellers could become active again if prices reach this range.

  • Demand Zone (Potential Support):

    • $2,950–$2,880: A well-defined demand zone where buyers stepped in during the last retracement.

Market Next Move (Prediction)

  1. Bullish Scenario (Uptrend):

    • Catalyst: Positive news such as Ethereum ecosystem developments, broader crypto market recovery, or improved macroeconomic conditions.

    • Target: If $3,100 is reclaimed, the price could test $3,200–$3,250 next.

    • Reason: Liquidity hunting above the resistance zone and renewed buying pressure.

  2. Bearish Scenario (Downtrend):

    • Catalyst: Continuation of macroeconomic uncertainty (e.g., strong USD, hawkish Fed stance) or Ethereum-specific negative sentiment.

    • Target: If $3,000 breaks, the price could drop to the next demand zone at $2,880 or even $2,750.

    • Reason: Sellers overpowering buyers at current levels, pushing the price further down.

Trading Plan

For Buyers (Long Setup):

  • Entry: Wait for price action to enter the $2,950–$2,880 demand zone and show bullish reversal signs (e.g., hammer candle, double bottom).

  • Stop-Loss: Below $2,850 (to avoid sudden drops).

  • Target 1: $3,100

  • Target 2: $3,200–$3,250

For Sellers (Short Setup):

  • Entry: Look for rejection signs in the $3,100–$3,180 supply zone.

  • Stop-Loss: Above $3,200

  • Target 1: $3,000

  • Target 2: $2,880

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