#TradingAnalysis101

I previously anticipated a potential decline in $ETH, and it has now dropped from $2,200 to $2,050, aligning with my prediction. While I believe $ETH has the potential to reach $3,500, $5,000, or even $7,500, it may first experience a downturn toward $1,500 or $1,200.

#Ethereum is currently trading at $2,050, down 8.15%, after breaking below key support levels. The price hit a 24h low of $2,014, signaling strong selling pressure.

Key Levels to Watch:

Resistance: $2,150 – A breakout could push ETH toward $2,300 and $2,500

Support: $2,000 – A breakdown may lead to further downside toward $1,800 and $1,600

Market Insights:

Parabolic SAR: Clearly bearish, suggesting continued downside pressure

MACD: Deep in negative territory, indicating strong downward momentum

Volume: Selling volume remains high, increasing the risk of further declines

Trade Setup:

Long Entry: Above $2,150, targeting $2,300 and $2,500

Short Entry: Below $2,000, with downside targets at $1,800 and $1,600

Stop Loss: $2,100 to manage risk

Ethereum is at a critical level—patience is key. Wait for confirmation before making your move!