$ETH /USDT chart update:
Ether is trading within a descending triangle on the shorter timeframes, a pattern that is often associated with a continuation of a bearish trend. However, it could also signal accumulation if support holds.
Immediate support is between $3,100 – $3,050, where buyers are trying to prevent further declines.
The nearest resistance is at $3,200, followed by the upper boundary of the descending triangle near $3,300.
A breakout above $3,300 could trigger a rise to $3,400 – $3,500, which would refute the bearish structure.
A break below $3,050 could lead to a retest of the psychological $3,000 level or deeper support zones.
Volume and momentum indicators should be closely monitored to confirm any breakout or decline. Low volume breakouts can be volatile.
Wait for a decisive move outside the triangle pattern before entering. Bullish sentiment above $3,300; bearish continuation below $3,050.
This update shows the short-term dynamics and important levels for $ETH /USDT in the upcoming sessions.
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