$ETH
ETH/USDT Technical Analysis (1H Timeframe) & Trade Suggestion š„
š„ Key Levels Identified:
Support Level: Around $2,546.92 (previous low)
Resistance Level: Around $2,795.45 (recent high)
š„ Trend & Indicators:
The price hit $2,795.45 and is now declining.
The Moving Averages (MA5: 2,657.36 & MA8: 2,664.80) show a bearish crossover, signaling downward momentum.
The price has fallen below the short-term moving averages, reinforcing bearish sentiment.
ā Entry & Position Suggestion:
Suggested Position: Short
Entry Price: Around $2,645 - $2,660 (if price retests moving average levels)
Target Price: $2,580 - $2,550 (approaching support level)
Stop Loss: $2,700 (above recent lower highs)
šÆ Final Decision:
Take a SHORT position as the price is rejecting resistance and following a bearish trend.
ā ļø Disclaimer !
This is just educational purpose only always take final decision base on your own research because crypto market is inherited risky & highly Volatile .
