Technical Analysis ETH/USDT (1H)

Currently, the ETH/USDT pair is forming a possible Head and Shoulders (H&S) pattern on a 1-hour timeframe, with a key neckline at 3310-3320 USDT. Although the price attempted to break above the resistance of 3350 USDT, there was a significant rejection, indicating selling pressure at this level.

Key Scenarios:

Bearish Scenario: If the price breaks below 3310 USDT, the H&S could be confirmed, projecting a target towards 3250 USDT. Probability: 60%.

Bullish Scenario: If the price exceeds 3350 USDT with volume, the pattern would be invalidated, and the market could seek higher levels. Probability: 40%.

Key Levels:

Support: 3310 USDT

Resistance: 3350 USDT

Note: This analysis is not financial advice. Trade cautiously and manage risk appropriately.