๐ ETH/USDT Technical Analysis
๐น Market Overview
โ Bullish Scenario (Reversal Above $2,092.67)
โ Bearish Scenario (Break Below $1,754.28)
A breakdown below $1,754.28 could lead to further declines, with potential targets at $1,654.75 or lower.
If ETH holds above $1,754.28 and reclaims $2,092.67, it could push towards $2,530.59.
๐ข Trading Strategy
๐ Long (Buy) Entry:
Entry: Above $2,092.67
Targets: $2,530.59 โ $2,968.52
Stop Loss: Below $1,800
๐ Short (Sell) Entry:
Entry: Below $1,754.28
Targets: $1,654.75 โ $1,500.00
Stop Loss: Above $2,000
Current Price: $1,909.19
24H High: $2,139.00
24H Low: $1,754.28
Price Change: -9.12%
๐ Technical Breakdown
1๏ธโฃ Support & Resistance Levels
Major Resistance: $2,530.59
Broken Support: $2,092.67
Current Support: $1,754.28 (Critical Level)
2๏ธโฃ Price Action Analysis
ETH has been in a strong downtrend, breaking multiple support levels.
It recently touched $1,754.28 and rebounded slightly, indicating a temporary support level.
A sustained move below $1,754.28 could trigger further downside pressure.
๐ Conclusion
๐น ETH is testing critical support at $1,754.28.
๐น A strong recovery above $2,092.67 may trigger a bullish reversal.
๐น A breakdown could push ETH towards lower support zones.
๐ก Recommendation: Watch for a reaction at $1,754.28. A bounce could provide a buying opportunity, while a breakdown could signal further downside.
